As a Part of the Federal Budgeting Process, an Executive

question 48

Multiple Choice

As a part of the federal budgeting process, an executive agency called the ______ reviews all agency budgets and ensures that they conform to the intent of the policy.

• A) Office of Management and Budget
• B) Commerce Department
• C) Executive Office of the President
• D) Nonpartisan Budget Review Commission

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Definitions:

Sales Discounts

Reductions granted on the selling price of goods or services to encourage prompt payment by the customer.

Cash Collection

The process of gathering and managing payments received from customers.

Discount Period

The period between the issuance of a bill, note, or bond and its maturity date, during which it may be purchased at a reduced price to yield interest upon redemption at full price.

Receivables Turnover Ratio

A financial metric that measures how efficiently a company collects its outstanding receivables over a period, calculated as sales divided by average accounts receivable.