The Authorization Function of Budgets Is Especially Important for Government

question 55

Multiple Choice

The authorization function of budgets is especially important for government and not-for-profit (NFP) entities, where budgeted amounts often serve both as approvals of planned activities (or programs) and as:

• A) Measures of quality.
• B) Indicators of performance.
• C) Certification of actions.
• D) Ceilings for expenditures.
• E) The basis for contract negotiations.

Evaluate how sellers can disclaim or modify warranties and when such disclaimers or modifications are effective.

Identify the nature of puffery and its distinction from express warranties.

Understand the legal remedies available for breach of warranty.

Comprehend the conditions under which implied warranties of merchantability and fitness for a particular purpose arise.

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Definitions:

Unequal Funding

The distribution of financial resources in an inequitable manner, often leading to disparities in the quality of services or opportunities.

Self-Fulfilling Prophecy

A belief or expectation that an individual or group holds, which influences them to act in ways that cause the belief to come true.

Testing and Tracking

The process of examining something to assess its qualities, performance, or condition, and monitoring its status over time.

Jaime Escalante

Was a Bolivian-American educator known for his work in teaching mathematics to troubled students in Los Angeles and dramatically improving their performance.