Which statement is true?

A) The federal government's fiscal year 2006 started on January 1,2006.
B) The federal government gets most of its tax revenue from the federal personal income tax.
C) Net interest on the national debt is about 15 percent of the federal budget.
D) None is true.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which does not necessarily align with the calendar year.

Federal Government

The federal government is the national government, which holds the ultimate authority over a federated country, responsible for executing laws, and managing national affairs and foreign policy.

Federal Budget

The government's plan for revenue and expenditures for a fiscal year, detailing how federal funds will be spent and collected.