The First Part of the Congressional Budgeting Process, Involving the Creation

question 39

Multiple Choice

The first part of the congressional budgeting process, involving the creation of the legal basis for government programs, is called .

• A) the franking privilege
• B) authorization
• C) apportionment
• D) appropriation
• E) cloture

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Definitions:

Work-in-Process Inventory

This refers to the goods that are in the middle of the manufacturing process but are not yet completed.

Manufacturing Overhead-Control

An account that aggregates all indirect manufacturing costs, used to control and allocate overhead costs during production.

Accounts Receivable

An asset that indicates amounts owed by customers.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.