Quiz 13 :
Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets
Looking for Finance Homework Help?
Q01 Q01 Q01
When preparing a baseline revenue forecast for the budget process, the analyst: A) includes the effect of proposed tax legislation on collections. B) never estimates increases larger than experienced in the most recently completed fiscal year. C) ultimately prepares time series estimates. D) None of the above.
ultimately prepares time series estimates
often use deterministic formulae
Q04 Q04 Q04
A tax expenditure budget: A) Estimates how much revenue is needed to support programs proposed by the chief executive. B) Estimates how much revenue is lost through preferences included in the tax structure. C) Estimates the impact of changing the tax code on budget revenue. D) Calculates the long term revenue impact of economic development.