Traditional Line-Item Budgets

question 6

Multiple Choice

Traditional line-item budgets:

• A) focus attention on the value of public services provided
• B) require crosswalks to identify appropriations to agencies.
• C) provide mechanisms for expenditure control.
• D) estimate the costs of accomplishing measurable tasks or activities.

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Definitions:

Total Tax

Total tax refers to the combined amount of all taxes owed by an individual or business entity in a given tax period, including federal, state, and local taxes.

Provincial Tax Brackets

Various income ranges within a province that are taxed at different rates, used to determine the amount of provincial income tax individuals owe.

Market Value

The current market price for buying or selling an asset or service openly.

Equipment

Tangible property used in operations, such as machinery and hardware, that contribute to the production or service of a business.