Which of the Following Is Not a Reason for Changes

question 39

Multiple Choice

Which of the following is not a reason for changes in the politics of the budget process over the past forty years?

• A)The changing composition of government spending toward social services.
• B)The increasing size of budget deficits.
• C)The increasing federal debt.
• D)The move away from incrementalism in the budgetary process.

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Definitions:

Consolidated Financial Statements

Consolidated financial statements present the financial position and results of operations for a parent company and its subsidiaries as if they were a single economic entity.

Elimination

In accounting, refers to the removal of intercompany transactions to avoid double counting when consolidating financial statements.

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its tangible and identifiable intangible assets.

Fair Value

The price that would be received for selling an asset or paid for transferring a liability in an orderly transaction between market participants at the measurement date.