The Inclination to Focus on National Issues, Rather Than Local

question 118

Multiple Choice

The inclination to focus on national issues, rather than local issues, in an election campaign is called

• A)candidate appeal.
• B)the incumbency advantage.
• C)national tide.
• D)coattails.
• E)coalition building.

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Definitions:

Income Summary Account

An account used in closing to collect revenues and expenses, the balance of which shows the net income or loss for the period.

Debit Balance

A debit balance is an accounting entry that occurs on the left side of the ledger and indicates the amount of money owed or an increase in assets or expenses.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, indicating the company's profitability.

Post-closing Trial Balance

A financial statement prepared after closing entries are made, showing the balances of all ledger accounts at the end of an accounting period.