Which of the Following Is True

question 435

Multiple Choice

Which of the following is true?

• A) In 2002, national defense accounted for more than half of federal spending.
• B) Federal spending on national defense has increase rapidly during the last several decades.
• C) Federal spending on health care programs such as Medicare and Medicaid has increased rapidly during the last several decades.
• D) Federal spending in the aftermath of hurricane Katrina expanded over 50%.

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Definitions:

Declining Prices

A market condition where the prices of goods or services decrease over time, often indicating a surplus or decreased demand.

Net Income

The net income of a business, which is obtained by deducting all costs and taxes from its total revenue.

Physical Count

The actual tallying of inventory goods a company has on hand to verify stock levels and assess the need for adjustment in accounting records.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.