Which of the Following Best Describes the Budget Under Reagan's

question 34

Multiple Choice

Which of the following best describes the budget under Reagan's administration?

• A)The Republican-controlled Congress enacted the balanced budget amendment to prevent a large deficit.
• B)Reagan refused to enact spending by Congress that would cause deficits.
• C)Increased defense spending was a cause of a growing budget deficit.
• D)The Democratic-controlled Congress used its authority over spending to check Reagan's spending on defense and keep the budget balanceD.

---

Definitions:

Accounts Payable Subsidiary Ledger

A detailed ledger that breaks down the amounts owed by a business to its suppliers or vendors into individual accounts.

Purchases Journal

A special journal used to record all purchases of merchandise on credit, tracking the accumulation of goods over a period.

Equipment Purchased

The acquisition of physical assets like machinery or technology used in the production of goods or services.

Accounts Receivable Subsidiary Ledger

A detailed ledger that tracks individual customer transactions and balances, complementing the overall accounts receivable account.