Congress May Do Which of the Following If It Is

question 26

Multiple Choice

Congress may do which of the following if it is not satisfied with an agency's performance?

• A) abolish the agency
• B) conduct investigations into the activities of the agency
• C) refuse to confirm presidential appointments to the agency
• D) reduce or eliminate the agency's budget
• E) Congress may do all of these.

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Definitions:

Balance Sheet

A financial statement that displays a company's financial position at a specific point in time, listing assets, liabilities, and equity.

Final Entries

The journal entries recorded at the end of an accounting period to prepare accounts for the next period or for the preparation of financial statements.

Temporary Accounts

Accounts used to collect information during a specific accounting period and are closed at its end, such as revenues, expenses, and dividends accounts.

Journalizing

The process of recording a transaction in a journal.