The Idea That the Federal Government Can Exercise Only the Powers

question 96

Multiple Choice

The idea that the federal government can exercise only the powers specifically articulated in the Constitution is known as the doctrine of

• A)implied powers.
• B)expressed powers.
• C)separation of powers.
• D)necessary and proper powers.
• E)original limits.

---

Definitions:

Accrual Basis of Accounting

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash transactions occur.

Cash Basis

An accounting method where revenue is recorded when cash is received, and expenses are recorded when cash is paid out.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances for accruals and deferrals that are not recorded through regular transactions.

Accruals

Accruals are accounting adjustments for revenues and expenses that have been earned or incurred but not yet recorded in accounts due to the timing of cash flows.