The Largest Single Functional Category of State Spending in Texas

question 22

Multiple Choice

The largest single functional category of state spending in Texas is

• A) health and human services.
• B) general government.
• C) education.
• D) public safety and corrections.
• E) business and economic development.

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Definitions:

GAAP

GAAP (Generally Accepted Accounting Principles) is a collection of commonly-followed accounting rules and standards for financial reporting.

Capital Lease

A lease agreement in which the lessee gains ownership or a substantial portion of the rights to the asset by the end of the lease term, treated as a purchase in accounting.

Lessee

A person or entity that leases property or equipment from another, known as the lessor, under a lease agreement.

Lessor

An entity or individual that owns an asset and grants another party the right to use that asset in exchange for periodic rental payments.