When Congress Is Unable to Pass a Complete Budget by the Beginning

question 6

Multiple Choice

When Congress is unable to pass a complete budget by the beginning of the fiscal year, it usually passes _____, which enable the executive agencies to keep on doing whatever they were doing the previous year with the same amount of funding.

• A) continuing resolutions
• B) referendums
• C) t ax increase bills
• D) nuclear option resolutions
• E) outlays and obligations bills

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Definitions:

Materials Price Variance

The difference between the actual cost of direct materials and the standard cost, used in variance analysis.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected amount, which can impact the cost of goods sold.

Material J

Material J refers to a specific category or type of raw material or input identified with the letter "J" used in manufacturing or production processes.

Direct Materials Quantity Variance

The difference between the budgeted amount of materials needed for production and the actual amount used, valuated at the standard cost.