Generally Speaking,political Action Committee (PAC)contributions Have __________

question 2

Multiple Choice

Generally speaking,political action committee (PAC) contributions have __________.

• A) become increasingly important in congressional elections
• B) decreased for incumbents but increased for challengers and open seats
• C) become less important in federal elections and more important in state elections
• D) become less important

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Definitions:

Ledger Accounts

Individual records that summarize transactions related to a specific account within the general ledger.

Debits

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.

Credits

Accounting entries that increase liabilities or equity, or decrease assets.

Posting References

Indicators used in accounting to record the transfer of amounts from the journal to the ledger, facilitating the tracking of transactions through the accounting system.