Lobbying Reforms Made in 1995 and 1996, Both Through Legislation

question 46

Multiple Choice

Lobbying reforms made in 1995 and 1996, both through legislation and congressional rules, included which of the following?

• A) Defining a lobbyist as anyone who spends 20% of his or her time lobbying Congress or the executive branch
• B) Requiring lobbyists to register with congressional officials
• C) Reporting on the nature of lobbying efforts
• D) Rules meant to restrict the value of gifts given to members of Congress
• E) All of these are correct.

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Definitions:

Financial Reporting

Crafting statements that unveil a business's financial health to those managing it, its investors, and regulatory bodies.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting in the United States.

Accrual Accounting

A financial recording strategy that documents earnings and outlays upon accrual, rather than basing the records on the actual cash exchange dates.

Cash Receipts

The total amount of cash collected by a business during a specific period, including revenue from sales, interest, dividends, and other cash inflows.