In Most Nations,one or More Governing Bodies Must Approve Government

question 143

Multiple Choice

In most nations,one or more governing bodies must approve government spending or new tax policies.This causes ___________ between setting fiscal policy and seeing its effects.

• A) a recognition lag
• B) an implementation lag
• C) an impact lag
• D) a countercyclical lag
• E) an automatic lag

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Definitions:

Sales Discounts

A reduction in the price of goods or services sold, offered by the seller as an incentive for early payment or in bulk purchase scenarios.

Sales

The total revenue earned from the selling of goods or services, before any deductions are made.

Charge Customer

To bill a customer for goods or services provided, thereby creating an account receivable.

Cash Discount

A deduction from the invoice price that is allowed if payment is made within a specified period.