In 2011, What Controversial Action Did the State of California

question 20

Multiple Choice

In 2011, what controversial action did the state of California take to help solve the budget crisis?

• A) required all businesses regardless of size to pay an additional 20 percent tax on property and sales transactions
• B) withheld more than $10 billion in sales tax that was returned to city and county governments
• C) terminated the contracts of more than 1,000 state employees
• D) terminated the existence of more than 400 community redevelopment agencies

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Cash Limit

Typically refers to the maximum amount of cash or cash equivalent that a person or entity can withdraw or use under certain conditions.

Monthly Disburses

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Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Daily Interest Rate

The interest rate expressed as a daily percentage, indicating the amount of interest charged or earned each day.