CPPB Attempt 2| 425 QUESTIONS| WITH COMPLETE SOLUTIONS

budgeting correct answer: the allocation of scarce resources among competing demands allotment correct answer: controls the rate of spending authorized by an appropriation allocation correct answer: controls specific use of the monies appropriated cash basis accounting correct answer: income is not counted until cash (or check) is actually received, and expenses are not counted until they are actually paid. accrual basis accounting correct answer: Transactions are recognized at the time they are incurred, as opposed to when cash is received or spent. encumber funds correct answer: To set aside or commit funds for a specified future expenditure. policy document correct answer: a good budget should articulate the program priorities and goals operations guide correct answer: a good budget should indicate the allocation of resources and the performance objectives and measures of the various departments, programs, and activities. financial plan correct answer: a good financial plant or budget should indicate the sources of revenue or any debt financing communications device correct answer: a good budget should stimulate dialogue among the public about important budge issues fund correct answer: an independent fiscal entity with assets, liabilities, reserves, a residual balance or equity, and revenues and expenditures for undertaking activities.