In Order to Pass Any Fiscal Policy Measure We Need

question 125

Multiple Choice

In order to pass any fiscal policy measure we need a

• A)two-thirds vote in both houses of Congress and the bill signed by the President.
• B)a majority vote in both houses of Congress and the bill signed by the President.
• C)a two-thirds vote in either house.
• D)a majority vote in either house.

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to inventory accounts occur at specific intervals, typically at the end of an accounting period.

LIFO

An inventory valuation method where the last items added to inventory are considered the first ones sold during a period of time; stands for Last-In, First-Out.

FIFO

An accounting method for inventory valuation where the first items acquired are the first ones sold, standing for First In, First Out.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency in managing stock levels.