Question 1

The basic budgetary procedures developed by England are now followed in principle by all modern democratic countries.

Accepted Answer

The basic budgetary procedures developed by England, such as the annual budget speech, have become standard practice in modern democratic countries around the world.

Question 2

The budget is developed by the legislative branch of government and presented to the executive branch.

Accepted Answer

The budget is typically proposed by the executive branch of government and then presented to the legislative branch for approval, amendment, and enactment.

Question 3

The federal government is required to develop a budget pursuant to the 10th Amendment of the U.S. Constitution.

Accepted Answer

The 10th Amendment does not specifically require the federal government to develop a budget. However, the U.S. Constitution does grant Congress the power to "lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States" (Article 1, Section 8), which requires the development of a budget to allocate and manage those funds.

Question 4

The Office of Management and Budget (OMB) is responsible for the preparation of the executive budget of the United States.

Accepted Answer

The Office of Management and Budget is responsible for preparing and executing the President's budget proposal to Congress.

Question 5

All states complied with the federal mandate in 1929 to develop and submit a budget for approval to Congress.

Accepted Answer

In 1929, not all states were required to submit a budget to Congress for approval; this mandate applied to the federal government, requiring it to create and submit a budget, not the states.

Question 6

The primary difference between school budgets and private sector budgets is the much higher percentage of costs devoted to personnel by the public schools.

Accepted Answer

Public schools typically devote a much higher percentage of their budgets to personnel costs compared to private sector organizations. This is due to the fact that public schools are often required to employ more staff members to adhere to regulations and meet the needs of a diverse student population, whereas private sector organizations can often streamline staff and operations for more efficiency.

Question 7

The advent of computerized data processing permitted more sophisticated budgeting practices by public schools.

Accepted Answer

Computerized data processing allowed public schools to gather and analyze data more efficiently, leading to more sophisticated budgeting practices.

Question 8

Zero-Based Budgeting has proved to be the popular budgeting system used by public schools.

Accepted Answer

While Zero-Based Budgeting may be used by some public schools, it is not the most popular budgeting system used by them. Many schools still use traditional incremental budgeting, which involves making minor adjustments to the previous year's budget.

Question 9

The basic budgetary procedures developed by England are now followed in principle by all modern democratic countries.

Accepted Answer

England's basic budgetary procedures, including the formulation of a budget by the executive branch and its approval by the legislature, are generally followed by modern democratic countries around the world. However, there may be variations in the specific procedures and institutions involved.

Question 10

The budget is developed by the legislative branch of government and presented to the executive branch.

Accepted Answer

The budget is typically proposed by the executive branch of government and then presented to the legislative branch for approval, amendment, and enactment.

Question 11

The federal government is required to develop a budget pursuant to the 10th Amendment of the U.S. Constitution.

Accepted Answer

The 10th Amendment does not specifically require the federal government to develop a budget. However, there are various laws and regulations that establish the budget process and requirements for federal agencies to submit budget requests to Congress.

Question 12

The Office of Management and Budget (OMB) is responsible for the preparation of the executive budget of the United States.

Accepted Answer

The OMB is responsible for the preparation of the executive budget of the United States, as well as overseeing the implementation of the President's agenda and providing guidance to federal agencies.

Question 13

All states complied with the federal mandate in 1929 to develop and submit a budget for approval to Congress.

Accepted Answer

In 1929, not all states had the requirement to develop and submit a budget for federal approval; this mandate primarily applied to the federal government itself, with the establishment of the executive budget process under President Hoover. States have their own processes for budget development and approval, which are not subject to federal approval.

Question 14

The primary difference between school budgets and private sector budgets is the much higher percentage of costs devoted to personnel by the public schools.

Accepted Answer

Public schools tend to have higher percentages of their budgets allocated to personnel costs, including salaries, benefits, and pensions, as compared to private sector budgets. This is because most of the work done in schools is done by teachers and other staff members who require compensation to provide their services, while private sector companies may have a more diverse set of expenses, such as marketing, advertising, research and development, and manufacturing costs.

Question 15

Purpose(s) of budgets include the following:
A) allocation of authority
B) comprehensive fiscal plan
C) estimates of revenue receipts and expenditures
D) all of the above

Accepted Answer

The purpose of budgets includes all of the above, including allocation of authority, creating a comprehensive fiscal plan, and making estimates of revenue receipts and expenditures.

Question 16

The approximate percent of public school budgets expended for personnel is:
A) 0.25
B) 0.35
C) 0.55
D) 0.85

Accepted Answer

The majority of public school budgets are spent on personnel costs such as salaries, benefits, and pensions. According to the National Center for Education Statistics, personnel costs make up approximately 85% of total current expenditures for public elementary and secondary education in the United States. Therefore, the best choice is D.

Question 17

Public school budgets are coded for the following:
A) function
B) program
C) object
D) instructional level
E) all of the above

Accepted Answer

Public school budgets are typically coded for function, program, and object. Additionally, some budgets may also include information on instructional level. Therefore, option E, all of the above, is the best choice as it encompasses all the possible coding methods for public school budgets.

Question 18

The accounting system employed by public schools is:
A) cooperative accounting
B) multi-purpose accounting
C) fund accounting
D) specialized accounting
E) all of the above

Accepted Answer

The accounting system employed by public schools is fund accounting, which is a specific type of accounting used by non-profit organizations, including schools. Cooperative accounting, multi-purpose accounting, and specialized accounting are not specific types of accounting used by public schools. Therefore, the best choice is C.

Quiz 17: School Budget Development and Administration

The basic budgetary procedures developed by England are now followed in principle by all modern democratic countries.

The budget is developed by the legislative branch of government and presented to the executive branch.

The federal government is required to develop a budget pursuant to the 10th Amendment of the U.S. Constitution.

The Office of Management and Budget (OMB) is responsible for the preparation of the executive budget of the United States.

All states complied with the federal mandate in 1929 to develop and submit a budget for approval to Congress.

The primary difference between school budgets and private sector budgets is the much higher percentage of costs devoted to personnel by the public schools.

The advent of computerized data processing permitted more sophisticated budgeting practices by public schools.

Zero-Based Budgeting has proved to be the popular budgeting system used by public schools.

The basic budgetary procedures developed by England are now followed in principle by all modern democratic countries.

The budget is developed by the legislative branch of government and presented to the executive branch.

The federal government is required to develop a budget pursuant to the 10th Amendment of the U.S. Constitution.

The Office of Management and Budget (OMB) is responsible for the preparation of the executive budget of the United States.

All states complied with the federal mandate in 1929 to develop and submit a budget for approval to Congress.

The primary difference between school budgets and private sector budgets is the much higher percentage of costs devoted to personnel by the public schools.

Purpose(s) of budgets include the following:

The approximate percent of public school budgets expended for personnel is:

Public school budgets are coded for the following:

The accounting system employed by public schools is: