When the Budget and Accounting Act of 1921 Was Passed

question 19

Multiple Choice

When the Budget and Accounting Act of 1921 was passed,

• A) the budgetary process was centralized within Congress.
• B) budgetary power shifted from the states to the national government.
• C) budgetary power shifted from Congress to the president.
• D) budgetary power shifted from the president to Congress.

---

Definitions:

Simple Interest

Interest computed solely on the initial amount of a loan or deposit, not taking into account the effects of compounding.

Annual Raises

Incremental increases in salary or wages that employees receive on a yearly basis as a reward for performance and/or to keep up with inflation.

Annual Salary

The total amount of money that an employee is paid annually by their employer for their job duties.

Annual Raises

Annual raises are salary increases awarded to employees once a year, often based on performance, inflation, or company profitability.