By Implementing the Laws and Policies Passed by Elected Officials

question 21

Multiple Choice

By implementing the laws and policies passed by elected officials, federal bureaucrats can be seen as:

• A) principals of Congress and the presidency.
• B) both principals and agents of the American people.
• C) agents only of presidents, who execute laws passed by Congress.
• D) agents of Congress and the presidency.

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Definitions:

Fiscal Year

A one-year period used for financial reporting and budgeting purposes, not necessarily coinciding with the calendar year.

Accrued Revenue

Income that has been earned but not yet received, recorded in the accounting period it is earned rather than when payment is received.

Assets

Resources owned or controlled by a business, expected to generate future economic benefit.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed, recognized as a liability on the balance sheet until earned.