Which Event Led to the End of Balanced Budgets and the Onset

question 13

Multiple Choice

Which event led to the end of balanced budgets and the onset of deficit spending?

• A) the War of 1812
• B) the Mexican-American War
• C) the Civil War
• D) World War I
• E) the Great Depression

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Definitions:

Journal

A chronological record of all financial transactions, providing the initial point of entry for all accounting data into the accounting system.

Metric Unit

A system of measurement based on meters, liters, and grams, used internationally for scientific and commercial purposes.

Decimal Point

A dot or small mark used to separate the integer part from the fractional part of a decimal number.

Kilograms

A unit of mass in the metric system, equivalent to one thousand grams or approximately 2.20462 pounds.