Which Statement Is False

question 195

Multiple Choice

Which statement is false?

• A)About seven percent of federal government spending goes toward interest on the national debt.
• B)Over eighty percent of local taxes comes from property taxes.
• C)The federal government will spend over $3.8 trillion this fiscal year.
• D)None of these statements is false.

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, giving the shareholder voting rights and a share in the company's profits, usually in the form of dividends.

Accounting Equation

The fundamental equation of double-entry bookkeeping, stating that assets equal liabilities plus shareholders' equity (Assets = Liabilities + Equity).

Liabilities

Financial obligations or debts owed by a company to creditors, typically categorized as current (due within one year) or long-term.

Stockholders' Equity

The ownership interest of shareholders in a corporation, represented by their shares of the company.