States in Which Region Receive More of Their Revenue from the Federal

question 9

Multiple Choice

States in which region receive more of their revenue from the federal government than do most other states?

• A)the West
• B)the Northeast
• C)the Midwest
• D)the South
• E)the noncontiguous states of Alaska and Hawaii

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Definitions:

Supplies

Materials or items which are used in the operation of a business or needed in the production process.

Services

Economic activities that are intangible, are not stored, and do not result in ownership transfer from the service provider to the service receiver.

Double-Entry

An accounting principle where every transaction is entered twice, as a debit in one account and a credit in another, to keep the accounting equation balanced.

Accounting Equation

The fundamental principle of accounting that represents the relationship between assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity.