The Office of Management and Budget Looks at 10 Separate

question 41

True/False

The Office of Management and Budget looks at 10 separate elements before it mayestablish a new reporting requirement.

---

Definitions:

Current Ratio

A financial metric that measures a company's ability to pay short-term obligations with its current assets.

Bills Receivable

Financial documents representing money that others owe to an individual or business, expected to be paid within a short period.

Current Liabilities

Financial obligations or debts a company is required to pay within one year or within its normal operating cycle.

Inventories

Quantities of goods or materials on hand or in process of production for sale, including raw materials, work-in-progress, and finished goods.