What Did the Budget and Accounting Act of 1921, Pushed

question 76

Multiple Choice

What did the Budget and Accounting Act of 1921, pushed through Congress by Andrew Mellon, create?

• A) chaos in the federal budget process due to its extremely partisan nature
• B) a series of economic changes totally at odds with the progressive desire for efficiency
• C) an end to states' budgets in favor of federal budgets alone
• D) sweeping tax increases in such a way that severely hurt the working poor
• E) a new Bureau of the Budget to streamline the process of preparing an annual federal budget

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Definitions:

Cost Performance Index

A measure in project management that calculates the financial efficiency and cost control of a project by dividing the earned value by the actual cost.

Schedule Variance

A project management metric that measures the difference between the planned and actual progress of a project.

Earned Value

A project management technique that measures project performance and progress in an objective manner.

Planned Value

In project management, it refers to the estimated monetary value of the work planned to be completed at a certain point in the project's timeline.