Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 12, Problem 16.3EP
Which of the following steps would not usually be part of the budgeting process?
- a. Heads of operating departments prepare budget requests.
- b. The chief executive (mayor or city manager, as appropriate) formally adopts the budget, thus giving it the force of law.
- c. One or more public budget hearings are held.
- d. The budget officer and other central administrators review and make adjustments to department requests.
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Which of the statement is not correct?
Question 27Answer
a.
The budget approval is done by the legislative
b.
The budget audit is done by the auditor general’s office
c.
Budget Execution is the job of the executive
d.
The budget preparation is initiated by the Heads of Departments
A____________________ is usually responsible for overall policy matters relating to the budget program and for coordinating the preparation of the budget itself.
Which of the following statements is the intended goal or outcome of a traditional line-item budget?
Estimate the costs of accomplishing measurable tasks or activities
Provide mechanisms for expenditure control
Focus attention on the value of public services provided
Require crosswalks to identify appropriations to agencies
Chapter 12 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 12 - Are governments and not-for-profit organizations...Ch. 12 - What is the difference between two types of...Ch. 12 - Prob. 3QCh. 12 - Robert Bland suggested that tensions may exist...Ch. 12 - Identify some essential components of the annual...Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - What are the three broad categories of service...Ch. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 14CCh. 12 - Budgets of government entities a. Are integrated...Ch. 12 - Which of the following statements regarding...Ch. 12 - Which of the following steps would not usually be...Ch. 12 - The budgeting principle in generally accepted...Ch. 12 - Prob. 16.5EPCh. 12 - An approach to budgeting that requires the very...Ch. 12 - Which of the following does not represent a...Ch. 12 - Prob. 16.8EPCh. 12 - Prob. 16.9EPCh. 12 - Prob. 16.10EPCh. 12 - Prob. 16.11EPCh. 12 - Which of the following is not one of the general...Ch. 12 - Prob. 16.13EPCh. 12 - The police chief of the Town of Meridian submitted...Ch. 12 - The City of Manhattan, Kansas, prepares an annual...Ch. 12 - The City of Ashcroft has produced a Service...Ch. 12 - Prob. 20EPCh. 12 - Prob. 21EPCh. 12 - The U.S. Office of Management and Budget (OMB)...
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- The Office of Management and Budget has the primary responsibility for doing which of the following?O Approving the budget O Preparing the budget Auditing the budget Implementing federal unemployment policy O Appropriating funds for the budgetarrow_forwardWhich of the following choices reflects the correct order of stages in the budget cycle? Agency request, executive consideration, legislative consideration, service delivery, audit Agency request, executive consideration, legislative consideration, audit, service delivery Executive consideration, agency request, legislative consideration, service delivery, audit Executive consideration, agency request, legislative consideration, audit, service deliveryarrow_forwardAnalyze the nature and purpose of budgeting, the stages involved in the preparation of budgets, identifying separately the roles of managers and the budget committee.arrow_forward
- At the state and local levels, what is the most common first step in the budget preparation process?arrow_forwardNeed him with the decriotionaIncluding the budget's objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budgetarrow_forward42. A certification on the availability of allotment is required before a disbursement of government funds is made. According to the GAM for NGAs, who shall issue this certification? Budget officer Chief accountant Head of the agency Requisitioning Individualarrow_forward
- Select each of the terms with the best description of its purpose. 1. Helps determine financing needs. Definitions 2. The usual starting point in the master budget process. 3. A report that shows predicted revenues and expenses for a budgeting period. 4. A budgetary cushion used to meet performance targets. 5. A comprehensive plan that consists of several budgets that are linked. 6. Employees affected by a budget help in preparing it. Termsarrow_forwardIt refers to the step in the government budgetary process which involves the enactment by the Congress of the General Appropriation Act (GAA) based on the budget submitted by the President which cannot be increased by the Congress. The initiative for the enactment of the appropriation law shall come from the House of Representatives.Group of answer choices Budget Legislation or Authorization Budget Preparation Budget Execution Budget Accountabilityarrow_forwardWhich of the following is true in a bottom-up budgeting approach? a.Supervisors tell departments their budget amount and the departments are free to work within those amounts. b.Departments determine their needs and relate them to the overall goals. c.Every expense needs to be justified. d.Departments budget their needs however they see fit.arrow_forward
- Why is it important to include a budgetary committee in the budgeting process?arrow_forwardWhat are your thoughts on the misappropriation of funds? Government budgets prevent public officials from spending outside their budgetary authority, and the increased importance of budgets is reflected in government financial reports by a required report comparing budgeted and actual amounts.arrow_forwardAccording to institute of Cost and Management Accountants (ICMA) a budget is a plan, quantified in monitory terms showing the income to be the generated, the costs to be incurred and the resources to be utilized for the defined period of time. Required: Explain the following terms connected with a budget (i) The budget period (ii)The budget Manual (iii)The budget committeearrow_forward
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