The Political Technique Called Logrolling

question 83

Multiple Choice

The political technique called logrolling

• A)always increases economic efficiency.
• B)always decreases economic efficiency.
• C)involves trading votes to secure favorable outcomes that otherwise could be rejected.
• D)is an example of the paradox of voting.

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Definitions:

Adjusting Entries

These are journal entries made in accounting at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the books for the next period.

End-Of-Period Spreadsheet

A financial report used to compile and summarize the accounting information at the end of an accounting period, including balances for assets, liabilities, and equity.

Income Statement Columns

Divisions in the income statement document that categorize and display revenues, expenses, and profit or loss data.