Funds That Are Given by Congress to States and Localities

question 43

Multiple Choice

Funds that are given by Congress to states and localities and that are earmarked by law for specific categories are known as

• A)categorical grants-in-aid.
• B)block grants.
• C)stovepipe grants.
• D)devolutionary grants.
• E)reverse remunerations.

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Definitions:

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single economic entity.

Voting Shares

Shares of a corporation's stock that grant the shareholder the right to vote on corporate matters, such as the election of the board of directors.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, and cash flows of a parent company and its subsidiaries as one single entity.

Voting Stock

Shares that give the holder the right to vote on company matters, such as electing the board of directors.