
Government Budgeting Flashcard

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Science
•
University
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the General Appropriations Act (GAA)?
Back
The GAA is the enacted budget approved by Congress and signed by the president.
2.
FLASHCARD QUESTION
Front
What is the National Expenditure Program (NEP)?
Back
The NEP serves as the government's proposed budget submitted to Congress.
3.
FLASHCARD QUESTION
Front
What is a primary challenge in budget processes?
Back
Aligning budget priorities with limited resources.
4.
FLASHCARD QUESTION
Front
What role do local legislative councils have in the budget process?
Back
They approve or revise the proposed local budget.
5.
FLASHCARD QUESTION
Front
What document details government borrowing, deficit, and revenue sources?
Back
Budget Expenditures and Sources of Financing (BESF).
6.
FLASHCARD QUESTION
Front
What is the purpose of the budget in government?
Back
To allocate resources and set priorities for government spending.
7.
FLASHCARD QUESTION
Front
What is a budget deficit?
Back
A budget deficit occurs when expenses exceed revenue.
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