Question

Because the budget process in texas operates on a two-year cycle, texas legislators have adequate time to gather information, carefully analyze it, and craft a detailed and accurate state budget. true

Answer 1

It is true. Texas legislators need adequate time to gather accurate  information and  carefully analyze the budget now that it is  operating in a two-year cycle

Texas lawmakers voted to approve the bill in 85th legislative session because time is running. Texas faces funding shortages due to slumping oil and gas revenues. And the state needs to the budget of  $217 billion in this tight economic times. 

Answer 2

This statement is false. The budget process in Texas operates on a two-year cycle, texas legislators have adequate time to gather information, carefully analyze it, and craft a detailed but not the accurate state budget.  

Further Explanation:

Federal Budget:

The budget is the estimation of the future financial inflows and outflows of an entity. The federal budget is prepared by the government of the country. It is the estimation of the government’s spending and earning for a specific year. The earning of the government includes taxes such as income tax, customs duty, sin taxes, corporate tax, and other taxes. The major category of government spending is Medicare, social security, military spending, non-defense discretionary spending, and interest on the loans. So the federal budget in the future estimation of a country’s earning (Taxes) and spending (Public welfare services).

State Budget:

State budget refers to a type of budget in which all the expenditures and income concerned only with the state. The budget amount is spent only in a particular state. The budget is maintained on the basis of quarterly or yearly. The state budget of Texas is maintained for 2 yearly.

The statement regarding the budget process in Texas operating in two years, as they have adequate time to gather the information, carefully analyze it. But there is a lot of changes in the two years, so the state budget is inaccurate. That’s why this statement is false.  

Learn more:

1. Learn more about the goal of the budget

brainly.com/question/1226004

2. Learn more about budgeting  

brainly.com/question/1890422

3. Learn more about the federal reserve bank

brainly.com/question/9417688

Answer details:

Grade: High School

Subject: Accounting

Chapter: Budgeting

Keywords:budget process, budgeting, Texas operates, Two-year cycle, Texas legislators, adequate time, gather information, carefully, analyze, craft, detailed, the accurate state budget.