In the United States,programs Such as the Interstate Highway System

question 82

Multiple Choice

 In the United States,programs such as the interstate highway system and services to the unemployed are MOST accurately considered 

• A) state functions that operate without any involvement on the part of the federal government. 
• B) federal functions, although state governments pay some of the costs. 
• C) state functions that are designated under the Tenth Amendment. 
• D) federal functions that operate without any involvement on the part of state governments. 
• E) state functions, although the federal government seeks to regulate them.

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Definitions:

Liabilities

Liabilities are financial obligations or debts that an entity owes to external parties, expected to be settled over time through the transfer of economic benefits.

Owner's Equity

The residual interest in the assets of a business after all liabilities are subtracted, representing ownership's claim on assets.

Expenses

Expenses are the outflows or the utilization of assets or incurring of liabilities during a period in the course of generating revenue.

Cash

A liquid asset representing currency or its equivalents that can be used immediately in transactions without any conversion or delay.