What Is One of the Biggest Problems with Federal Block

question 39

Multiple Choice

What is one of the biggest problems with federal block grants?

• A)There is a need for greater accountability in how the funds are actually spent by the states.
• B)States must demonstrate that they are following the precise regulations established by the federal government.
• C)There is a need to make sure the grants do not violate the commerce clause of the Constitution.
• D)States have been unwilling to accept any funding from the federal government.

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Definitions:

Periodic Inventory System

A method of inventory valuation where updates to inventory levels and cost of goods sold are made periodically at the end of an accounting period, rather than after each sale or purchase.

LIFO Method

An inventory valuation method that assumes the last items placed in inventory are the first sold during an accounting year.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead.

Weighted-Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, giving more weight to some numbers than others.