Which of the Following Statements Is Not True

question 2

Multiple Choice

Which of the following statements is not true?

• A)Federal government expenditures grew rapidly during the 1960s.
• B)State and local expenditures rose during the twentieth century.
• C)Federal government expenditures always exceeded combined state and local expenditures during the 20th century.
• D)Total government expenditures rose steadily during the twentieth century.

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Definitions:

Operating Activities

Those activities directly related to the production, sale, and delivery of a company's products or services, as reflected in its income statement.

Current Accounts

Balances held in checking accounts that are typically used for the day-to-day money transactions and management.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations with its current assets.