Answer:
The Office of MANAGEMENT and Budget, part of the executive branch, prepares the initial FEDERAL budget. However, the president's budget is only a PROPOSAL THAT MUST BE APPROVED BY CONGRESS.
Explanation:
The Office of Management and Budget is the largest department or office in the White House. It is also one of the most powerful and influential ones. The budget prepared by the OMB must be sent to Congress in order for it to approve it. Congress has the power to modify and amend it through he process of appropriations. The OMB is also responsible for monitoring how the approved budget is spent, and if it follows the President's policies.
By analyzing the federal budget proposed by the president, you can understand the policies that are favored by the administration and those that are not. E.g. if the federal budget cuts the EPA budget, then you know that the environment is not something important for the president.
Answer:
(A) Budged amounts
(B) A list of all controllable costs
(C) The difference between actual and budgeted amounts
(D) Actual amounts
Explanation:
Responsibility accounting is a system that gathers or receives, summarizes, and reports accounting data pertaining to the responsibilities of individual managers. This system makes available every information needed for the evaluation of each manager on the revenue over which he presides.
A responsibility accounting report contains those revenues presided over by the responsible manager. It also contains all of the responsibility accounting budgets made for each department and summaries them in one report. When both controllable and uncontrollable items are included in the report, accountants should clearly separate the categories.
Answer:
a.$731,09
b. $578.01
C.-$152.07
Explanation: see attached file
The opportunity cost of computer chip production is 2.
<h3 /><h3>Definition of opportunity cost.</h3>
Opportunity cost of the next best option that is forgone when one option is chosen over other options. Opportunity cost is also known as implicit cost.
<h3>Calculation of opportunity cost</h3>
In order to determine the opportunity cost divide the number of potato chips by the number of computer chips that can be made.
Opportunity cost = number of potato chips / number of computer chips
50 / 25 = 2
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Answer:
Explanation:
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