Which of the Following Is Not a Typical Step in the Budgeting

question 2

Multiple Choice

Which of the following is not a typical step in the budgeting process for a state or local government?

• A) Request by management for input on the budget.
• B) Review and revisions of the budget by the administrative staff of each unit.
• C) Public hearings for citizen input.
• D) Approval by a majority vote of the citizenry.

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Definitions:

Negative Externality

A cost that affects a party who did not choose to incur that cost, often associated with production or consumption of goods and services.

Corporate Jet

A private aircraft owned or leased by a company for the transportation of its executives, employees, or clients.

Automobile Manufacturer

A company that engages in the design, production, marketing, and selling of motor vehicles.

Market Prices

The prevailing rates at which goods and services are traded in the market, determined by supply and demand.