Classification of Expenditures by Function Would Not Include

question 101

Multiple Choice

Classification of expenditures by function would not include:

• A) public safety.
• B) general government.
• C) capital outlay.
• D) sanitation.

Grasp the conditions under which a delay in payment or refusal to pay constitutes dishonor of an instrument.

Understand the actions required by the holder to enforce payment on a negotiable instrument.

Recognize the circumstances under which warranty liability arises in the transfer of a negotiable instrument.

Acknowledge the effects of unauthorized indorsement and the allocation of loss.

---

Definitions:

Congress

The legislative branch of the federal government in countries such as the United States, consisting of two houses: the Senate and the House of Representatives, responsible for making laws.

Federal Budget

This refers to the government's estimate of spending and revenue for a specific fiscal year.

President

The elected head of a republican state.

Congress

The legislative branch of the United States federal government, composed of the House of Representatives and the Senate, responsible for making federal laws.