Any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
<h3>What does Texas Constitution require a balanced budget?</h3>
- Texas always keeps its budget balanced because the State Constitution demands it. The Texas state and local sales taxes exceed 10% of the individual transaction price. The primary operating fund for Texas is the General Revenue Dedicated Fund.
- A constitutional amendment known as the "balanced budget amendment" would restrict government spending to the amount of revenue it receives. Spending would need to be under control by the federal government.
An amendment to the texas constitution requires a balanced budget. This means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
According to a balanced budget, a government should not spend more than its income. Thus projected incomes and expenditures should be equal.
To learn more about balanced constitutional budget amendment, refer to:
brainly.com/question/8873582
#SPJ9
Answer:
False
Explanation:
The Otis Self-Administering Test of Mental Ability was the first group-administered mental ability test to have widespread use in industry.
This test was first developed in 1922 by Arthur Otis. It was first designed to measure students' general school abilities. Otis's first tests were designed for the Army in 1917 and were known as the Alpha tests (for those who could read) and the Beta tests (for those who couldn't read).
Answer:
<h2>Post-Closing trial balance is usually prepared after the closing entries are posted to the ledger account.Hence,the correct answer is the third option or after closing entries are posted to the ledger accounts.</h2>
Explanation:
In Accounting,the main objective of preparing a post-closing trial balance is to ensure the completion and closure of all the temporary accounts and the equality between all the debit and credit entries have been consistently established once the closing entry has been done.Once the closing entries have been put into journal and finally posted in ledger,a detailed account or list of all the individual accounts along with their respective balances is prepared which is basically known as Post Closing Trial Balance Account.It includes all the unbalanced accounts from the original trial balance or the accounts which are not balanced based on debt and credit entries,at the end of the accounting or reporting year.Therefore,post-trial balance basically ensures that all the accounts entered in the original trial balance are zero balance or the debit and credit entries of all the individual accounts in trial balance are balanced or equal.
Answer:
a. Incremental analysis.
b. Sunk cost.
c. Relevant information.
d. Opportunity cost.
e. Joint products.
f. Out-of-pocket cost.
g. Split-off point.
Explanation:
a. Incremental analysis: examination of differences between costs to be incurred and revenue to be earned under different courses of action.
b. Sunk cost: a cost incurred in the past that cannot be changed as a result of future actions. Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered.
c. Relevant information: costs and revenue that are expected to vary, depending on the course of action decided on. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
d. Opportunity cost: the benefit foregone by not pursuing an alternative course of action. Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
e. Joint products: products made from common raw materials and shared production processes.
f. Out-of-pocket cost: a cost yet to be incurred that will require future payment and may vary among alternative courses of action.
g. Split-off point: the point at which manufacturing costs are split equally between ending inventory and cost of goods sold. Thus, it give rise to joint products that emerge from the same raw materials and a shared manufacturing process.
The statement "The value of an item where the borrowers owned but they are not at the repossession risk" is to be true.
The unsecured loan is the type of loan in which there is no need for any type of collateral property.
The lender does not takes the assets of the borrower as the security but it gives the approval of an unsecured loan depends upon the creditworthiness of the borrower.
Examples are:
- Personal loans.
- Students loans.
- Credit cards.
The following information related to unsecured loans is
- It does not for cars, houses, or any other large purchases
- In this, the collateral does not involve.
- It contains high interest.
Therefore we can conclude that, option d is correct.
Learn more about the unsecured loan here: brainly.com/question/8347317
