Briefly Describe a Master Budget and the Sequence in Which

question 157

Essay

Briefly describe a master budget and the sequence in which the individual budgets within the master budget are prepared.

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Definitions:

Formal Rulemaking

A procedure for creating new regulations which involves public notice, opportunities for public comment, and a published draft of the rules.

Informal Policy

Guidelines or practices that are not officially documented but are understood and followed by members of an organization.

Executive Agencies

Agencies of the government responsible for the enforcement and administration of federal laws, usually under the direct control of the President or executive branch.

Executive Branch

A branch of government responsible for executing or enforcing laws, often headed by a president or prime minister.