Describe How Candidates Raise the Money They Need to Run

question 29

Essay

Describe how candidates raise the money they need to run.Among other things,explain the primary sources of campaign donations,how campaign contributions are (and are not)regulated in the United States and how the Supreme Court has ruled in recent years with regard to campaign finance laws.

Apply journal entry recording for various business transactions.

Analyze the impact of transactions on financial statements (balance sheet, income statement, statement of cash flows).

Comprehend the preparation and components of an income statement through operating income.

Differentiate between cash basis and accrual basis of accounting.

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Definitions:

Financial Services Modernization Act

Legislation enacted in 1999, also known as the Gramm-Leach-Bliley Act, which allowed integration among banks, securities companies, and insurance companies.

Customer Privacy

The protection of personal information shared by customers with businesses, ensuring that it is not misused or disclosed without consent.

Financial Institutions

Organizations such as banks and credit unions that provide financial services including deposits, loans, and investments.

EFT

Electronic Funds Transfer, a system of transferring money from one bank account directly to another without any paper money changing hands.