Which Type of Committee Focuses on Initiating, Reviewing, and Reporting

question 14

Multiple Choice

Which type of committee focuses on initiating, reviewing, and reporting out bills?

• A) appropriations committees
• B) authorizing committees
• C) committees on government operations
• D) executive committees

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Definitions:

Accrual Accounting

The method of accounting that recognizes revenue when earned and expenses when incurred regardless of when cash transactions occur.

Deferrals

Financial transactions that are recognized in a later accounting period than the period in which they occur, such as prepaid expenses.

Accruals

Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged, to reflect the true financial position of a company.

Cash Flow Assessment

The analysis of a company's cash inflows and outflows to evaluate its financial health.