The Second-Largest Functional Category of State Spending in Texas Is

question 36

Multiple Choice

The second-largest 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:

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government, such as both state and federal taxes on the same income.

S Corporation

A special designation for a corporation that allows income, losses, deductions, and credits to be passed through to shareholders for tax purposes.

Dual Purpose Corporation

A business entity designed to operate for both profit and to achieve a social or charitable goal.

General Partnership

A partnership in which the partners divide profits and management responsibility and share unlimited personal liability for the partnership’s debts.