Which of the Following Statements Regarding Government Budgets Is Not

question 50

Multiple Choice

Which of the following statements regarding government budgets is not ?

• A) A budget should be enacted before the fiscal year begins and be integrated with the financial accounting system so that actual results can be compared to budgets at regular intervals.
• B) The budget's role is limited to inclusion in internal financial reports and budgetary compliance monitoring for those funds that have a legally approved budget.
• C) Integrating the budget into the accounting system allows management to oversee individual unit performance and react quickly to variances between actual results and budgeted plans.
• D) A budget is a plan of financial operation embodying an estimate of proposed expenditures for a given period of time and the proposed means of financing them.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as output level changes.

Demand Curve

A graph representing the quantity of a good that consumers are willing and able to purchase at various prices.

Non-discriminating Monopolist

A monopolist who charges a single price for all units of output sold, unlike price-discriminating monopolists who charge different prices.

Marginal Revenue

It refers to the additional income earned from selling one more unit of a good or service.