Government Funds Given to a State or Locality That Are

question 127

Multiple Choice

Government funds given to a state or locality that are earmarked by law for specific categories are called

• A)categorical grants-in-aid.
• B)block grants.
• C)furtherances.
• D)endowments.
• E)pass-throughs.

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Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition, including income statement, balance sheet, and cash flow statement.

Petty Cash Fund

A modest cash reserve used for quick payments for assorted trifling expenses.

Replenished

The process of refilling or restocking items to their required or previous level, often used in inventory and supply chain management.

Office Supplies

Consumable items used in offices or businesses for daily operations, such as stationery, printer ink, and cleaning supplies.