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Budget terminology appropriate definitions

Need help matching the 20 Budget terms with definitions.

1. Match the following terms with the appropriate definition.
Magna Carta

Mercantilism

Thomas Jefferson's famous phrase

Public administration

Budgeting and Accounting Act of 1921

Full Employment Act of 1946

Annual budget

Comprehensive Budget

Detailed Line Items

Identification of all transactions

Apportionment and Allotment

Planned-programming budgeting

Management-by-objectives

Zero-base budgeting

Target-base Budgeting

Nondiscretionary spending

Entitlements

Sunset Legislation

Permanent authority

Earmarked revenue

Answer
1. All revenues and expenditures included in the budget
2. "the best government is the least government"
3. Requires the president to create a national budget and established an independent audit agency
4. Called for economic planning and a budget policy directed toward achieving maximum national employment and production.
5. Approach to budgeting which requires each year's activities to be considered without looking at past years or current year's activities.
6. Top-down rationing process
7. Government programs should automatically expire unless a legislature take positive action to renew the programs every few years
8. Revenues and expenditures presented for one fiscal year period
9. Commitment of federal funds outside the effective control of the appropriation process
10. Presents the exact amount government planned to spend for every separate thing or service that government would purchase.
11. Economic policy focused on trading relationship that required colonies to provide one or more cash crops such as sugar, indigo, tobacco, and cotton, to the mother country in Europe.
12. Congress allows the program to spend whatever is necessary following congressional guidelines
13. An executive branch mechanism to regulate the rate and actual spending of authorizing funds.
14. Requires setting specific objectives for agencies and requires regular high-level periodic reports on the progress toward achieving those objectives.
15. Records every obligation and transfer of money and liquidation of obligation
16. Institutionalized analysis in the executive branch decision-making process.
17. Food stamps, unemployment compensation, veteran' benefits
18. Funds from a specific source to be spent in a particular way
19. Treaty signed in 1215 which define the situation in which taxes could be levied.
20. Study and practice such that the government will accomplish its policies in an economic and efficient manner.

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1. Match the following terms with the appropriate definition.
Magna Carta

Mercantilism

Thomas Jefferson's famous phrase

Public administration

Budgeting and Accounting Act of 1921

Full Employment Act of 1946

Annual budget

Comprehensive Budget

Detailed Line Items

Identification of all transactions

Apportionment and Allotment

Planned-programming budgeting

Management-by-objectives

Zero-base budgeting

Target-base Budgeting

Nondiscretionary spending

Entitlements ...

Solution Summary

Budget terminology appropriate definitions are examined.

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