The MOST Significant Education Policy Developed by the Federal Government

question 109

Multiple Choice

The MOST significant education policy developed by the federal government in the nineteenth century was the

• A)creation of compulsory elementary school education.
• B)establishment of land-grant colleges.
• C)creation of the GI Bill.
• D)development of a standard national elementary school curriculum.

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Definitions:

Double-Declining-Balance Method

An accelerated depreciation method that expenses more of an asset’s cost closer to the beginning of its usable life.

Depreciable Asset Accounting

The accounting process that involves allocating the cost of a tangible asset over its useful life.

Depreciation Expense

The portion of the total cost of a depreciable asset that is allocated as an expense to the income statement in a given period.

Residual Value

The estimated value of a leased asset at the end of the lease term, or the expected value of an asset after its useful life ends.