Which of the Following Steps in the Budgetary Authority Process

question 13

Multiple Choice

Which of the following steps in the budgetary authority process occurs when Congress passes a spending bill which is signed by the President?

• A) Apportionment
• B) Appropriation
• C) Allotment
• D) Obligation

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Definitions:

Annual Rate

Refers to the yearly interest rate or growth rate applied to investments, loans, or any financial product that calculates earnings or payments over a year.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate cost of living changes.

Market Basket

A selected group of goods and services used to track inflation and other economic indicators through price changes.