Define the Following: Data Reduction

question 3

Essay

Define the following: data reduction

---

Definitions:

Federal Budget Process

The procedure by which the federal government creates and approves a budget, detailing the allocation of funds to different departments and programs.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements that may not align with the calendar year.

Fiscal Year

A one-year period used by governments and businesses for accounting and budget purposes, which may not coincide with the calendar year.

Budget Deficit

The financial situation in which expenditures exceed revenue over a specific period, leading to a shortfall that must be financed through borrowing.