Which Task Does the Comptroller's Office Oversee

question 56

Multiple Choice

Which task does the comptroller's office oversee?

• A) Preparing the state's budget
• B) Issuing checks to pay state obligations
• C) Appropriating lottery funds
• D) Selling general obligation bonds
• E) Taking reservations for football tailgating on state property

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Definitions:

Compensating Balance

A minimum account balance that a firm agrees to maintain in a bank account, often used to secure a loan or line of credit.

Accounts Payable

Short-term liabilities representing amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.

Factoring

A financial transaction and a type of debtor finance where a business sells its accounts receivable to a third party (the factor) at a discount.

Net Working Capital

measures a company's short-term financial health by subtracting its current liabilities from its current assets, indicating the liquidity available to fund day-to-day operations.