Question 1

During difficult economic times, why are uniform across-the-board budget cuts poor fiscal policy?

Accepted Answer

They often have the effect of inadequately funding high-priority programs rather than addressing lower-priority programs that deserve larger reductions or even elimination.

Question 2

What is the name of the federal law that governs how loan programs are displayed and costed in the federal budget?

Accepted Answer

A)  Budget and Accounting Act 
B)  Federal Credit Reform Act 
C)  Troubled Asset Relief Act 
D)  Federal Deposit Insurance Act 
A)  Budget and Accounting Act 
B)  Federal Credit Reform Act 
C)  Troubled Asset Relief Act 
D)  Federal Deposit Insurance Act B

Question 3

How is the term "neutral competence" applied to a chief executive's central budget office?

Accepted Answer

Budgeters have a responsibility to retain their professional approach in developing unbiased budget recommendations while simultaneously keeping executive priorities in mind.

Question 4

Public budgets must show receipts from taxes, fees, and transfers from other governments, but not from revenues raised by user charges.

Accepted Answer

A) True 
 B)False

Question 5

The unfunded liability in 2018 across all of the states for retiree pensions exceeded $1 trillion.

Accepted Answer

A) True 
 B)False

Question 6

Prescriptions to reform federal government credit programs favor increasing the risk of the public sector and decreasing that of the private sector.

Accepted Answer

A) True 
 B)False

Question 7

What term is applied to a presentation that shows the future effect of continuing current laws and programs?

Accepted Answer

A)  Current services 
B)  Contingent liabilities 
C)  Credit guarantees 
D)  Program information 
A)  Current services 
B)  Contingent liabilities 
C)  Credit guarantees 
D)  Program information

Question 8

Discuss the public budget decision-making process from the preparation phase and its products to final adoption. What information is contained in the budget? What are the respective roles of line agencies, the central budget office, the chief executive, and the legislative body?

Accepted Answer

The public budget decision-making proces

Question 9

Which of the following agencies is not involved in revenue forecasting at the federal level?

Accepted Answer

A)  Office of Management and Budget 
B)  Government Accountability Office 
C)  Council of Economic Advisers 
D)  Treasury Department 
A)  Office of Management and Budget 
B)  Government Accountability Office 
C)  Council of Economic Advisers 
D)  Treasury Department

Question 10

What is a common element of most budget documents, in which the chief executive highlights the major issues, constraints, priorities, initiatives, and recommendations?

Accepted Answer

A)  Combined statement 
B)  Budget message 
C)  Appropriation bill 
D)  Budget circular 
A)  Combined statement 
B)  Budget message 
C)  Appropriation bill 
D)  Budget circular

Question 11

Why do chief executives include items in their budget that they do not wholeheartedly support?

Accepted Answer

Because they know th

Question 12

What time periods are normally covered by revenue estimates?

Accepted Answer

The current year, th

Question 13

In an executive budget process, what is the most important strategic concern that the chief executive (governor, mayor, city manager) needs to communicate at the outset of the process?

Accepted Answer

The chief executive needs to convey to t

Question 14

When droughts, floods, or other conditions destroy crops, the federal government usually passes legislation that fully covers farmers against most, if not all, losses.

Accepted Answer

A) True 
 B)False

Question 15

The generic term for programs that guarantee benefits to the sick, the needy, and the elderly is:

Accepted Answer

A)  Social Security. 
B)  welfare. 
C)  entitlements. 
D)  Medicare. 
A)  Social Security. 
B)  welfare. 
C)  entitlements. 
D)  Medicare.

Question 16

Achieving balance in any public budget is a political process.

Accepted Answer

A) True 
 B)False

During difficult economic times, why are uniform across-the-board budget cuts poor fiscal policy?

What is the name of the federal law that governs how loan programs are displayed and costed in the federal budget?

How is the term "neutral competence" applied to a chief executive's central budget office?

Public budgets must show receipts from taxes, fees, and transfers from other governments, but not from revenues raised by user charges.

The unfunded liability in 2018 across all of the states for retiree pensions exceeded $1 trillion.

Prescriptions to reform federal government credit programs favor increasing the risk of the public sector and decreasing that of the private sector.

What term is applied to a presentation that shows the future effect of continuing current laws and programs?

Discuss the public budget decision-making process from the preparation phase and its products to final adoption. What information is contained in the budget? What are the respective roles of line agencies, the central budget office, the chief executive, and the legislative body?

Which of the following agencies is not involved in revenue forecasting at the federal level?

What is a common element of most budget documents, in which the chief executive highlights the major issues, constraints, priorities, initiatives, and recommendations?

Why do chief executives include items in their budget that they do not wholeheartedly support?

What time periods are normally covered by revenue estimates?

In an executive budget process, what is the most important strategic concern that the chief executive (governor, mayor, city manager) needs to communicate at the outset of the process?

When droughts, floods, or other conditions destroy crops, the federal government usually passes legislation that fully covers farmers against most, if not all, losses.

The generic term for programs that guarantee benefits to the sick, the needy, and the elderly is:

Achieving balance in any public budget is a political process.

Introduction

The Public Sector in Perspective

The Government, the Economy, and Economic Development

Budget Cycles

Budgeting for Revenues: Income Taxes, Payroll Taxes, and Property Taxes

Budgeting for Revenues: Transaction-Based Revenue Sources

Budget Preparation: The Expenditure Side

Budget Approval: The Role of the Legislature

Budget Approval: The US Congress

Budget Execution

Financial Management: Accounting, Reporting, and Auditing

Capital Assets: Planning and Budgeting, Analysis, and Management

Capital Finance and Debt Management

Intergovernmental Relations

Comparing the Great Recession and the COVID-19 Recession: Causes, Responses, and Effects

Filters

Exam 8: Budget Preparation: The Decision Process

During difficult economic times, why are uniform across-the-board budget cuts poor fiscal policy?

What is the name of the federal law that governs how loan programs are displayed and costed in the federal budget?

How is the term "neutral competence" applied to a chief executive's central budget office?

Public budgets must show receipts from taxes, fees, and transfers from other governments, but not from revenues raised by user charges.

The unfunded liability in 2018 across all of the states for retiree pensions exceeded $1 trillion.

Prescriptions to reform federal government credit programs favor increasing the risk of the public sector and decreasing that of the private sector.

What term is applied to a presentation that shows the future effect of continuing current laws and programs?

Discuss the public budget decision-making process from the preparation phase and its products to final adoption. What information is contained in the budget? What are the respective roles of line agencies, the central budget office, the chief executive, and the legislative body?

Which of the following agencies is not involved in revenue forecasting at the federal level?

What is a common element of most budget documents, in which the chief executive highlights the major issues, constraints, priorities, initiatives, and recommendations?

Why do chief executives include items in their budget that they do not wholeheartedly support?

What time periods are normally covered by revenue estimates?

In an executive budget process, what is the most important strategic concern that the chief executive (governor, mayor, city manager) needs to communicate at the outset of the process?

When droughts, floods, or other conditions destroy crops, the federal government usually passes legislation that fully covers farmers against most, if not all, losses.

The generic term for programs that guarantee benefits to the sick, the needy, and the elderly is:

Achieving balance in any public budget is a political process.

Introduction

The Public Sector in Perspective

The Government, the Economy, and Economic Development

Budget Cycles

Budgeting for Revenues: Income Taxes, Payroll Taxes, and Property Taxes

Budgeting for Revenues: Transaction-Based Revenue Sources

Budget Preparation: The Expenditure Side

Budget Approval: The Role of the Legislature

Budget Approval: The US Congress

Budget Execution

Financial Management: Accounting, Reporting, and Auditing

Capital Assets: Planning and Budgeting, Analysis, and Management

Capital Finance and Debt Management

Intergovernmental Relations

Comparing the Great Recession and the COVID-19 Recession: Causes, Responses, and Effects

Filters