Which Is the Most Accurate Statement

question 15

Multiple Choice

Which is the most accurate statement?

• A)The federal government gets most of its tax receipts from the corporate income tax.
• B)Nearly one third of all federal expenditures go toward paying interest on the national debt.
• C)The largest two federal spending categories are defense and Social Security.
• D)About 3 percent of federal government spending is on defense.

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Definitions:

Repaid

Repaid pertains to the act of paying back money that was borrowed from an individual or institution.

Compound-Interest CSB

An interest calculation method, possibly referring to Canada Savings Bonds, where earned interest is added to the principal, and future interest calculations are based on the new total.

Redeemed

The act of repaying or buying back a security or loan, often before it matures.

Guaranteed Minimum

The lowest amount assured by a contract, regardless of external conditions or outcomes.