Spending on Programs That Congress Authorizes ________ Is Known as Discretionary

question 104

Multiple Choice

Spending on programs that Congress authorizes ________ is known as discretionary spending.

• A) by prior law
• B) on an annual basis
• C) on an off-budget emergency basis
• D) after approval from the Federal Reserve

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Definitions:

Bookkeeping Procedure

The systematic recording of financial transactions and maintenance of financial records in a business.

Worksheet

A document or tool used for planning, calculating, or recording information, especially in accounting.

Financial Statements

A set of formal records that outline the financial activities and condition of a business, entity, or individual, including the balance sheet, income statement, and cash flow statement.

Long-term Investments

Assets that a company intends to hold for more than one fiscal year, such as stocks, bonds, or real estate.