The Budget Enforcement Act of 1990 Required That All Increases

question 25

Multiple Choice

The Budget Enforcement Act of 1990 required that all increases in nonentitlement spending be followed by

• A)abolition of frivolous agencies.
• B)matching funds from the states.
• C)spending cuts in discretionary programs.
• D)tax increases.
• E)decrease in spending on other discretionary programs or increase in taxes.

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Definitions:

NFPs

Not-For-Profit organizations, which operate for purposes other than making a profit for owners or shareholders.

Business Enterprises

Organizations engaged in commercial, industrial, or professional activities, aiming to generate profits.

Boards of Directors

A group of individuals elected to represent shareholders and oversee the management and direction of a company or organization.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that govern how financial statements should be prepared and presented globally.