Which of the Following Has Not Been Proposed as a Reform

question 100

Multiple Choice

Which of the following has not been proposed as a reform to the federal budget process?

• A)operating on a biennial budget rather than an annual budget
• B)eliminating line items
• C)moving the federal government fiscal year to begin in january instead of October
• D)sort the budget into a capital and an operating budget
• E)all of the above have been suggested as reforms

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Definitions:

Securities and Exchange Commission

An independent federal agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.

IASB

stands for the International Accounting Standards Board, which is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRS).

Measurement (Cost) Principle

An accounting principle that states that accounting information should be based on actual cost.

Purchasing Managers

Professionals responsible for buying goods and services for their company, aiming for the best quality at the most cost-effective price.