Question

Why should the budget of a country be passed and enacted into law on time?

Why should the budget of a country be passed and enacted into law on time?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A budget should be passed and enacted into law on time for the following reasons:

*Only when it is passed can it be communicated to those who are to implement it. Delay can cause the desired benefits to be unrealized.

*Passing of a budget and its commuinication will act as an authorization to commit resources to the various uses.

*It should become a law in time as the budget may contain taxation aspects which are to be implemented from the day they are to be effective.

*Delay in passing and enacting can leave funds unutilized. It can also delay the execution of the ongoing programs.

*Timely action needs to be taken to meet the budget deficits, if any.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Identify the name of a law that was enacted to protect confidentiality in the health industry....
Identify the name of a law that was enacted to protect confidentiality in the health industry. For three laws in healthcare Statutory law Regulatory law Common law
Situation: A survey was conducted to determine whether a proposed federal law should be passed to...
Situation: A survey was conducted to determine whether a proposed federal law should be passed to over haul the health care system in U.S. The following data was collected recording the number of people favoring the law based on their age group. It is believed that the distribution of the people favoring passing the law varies based on the age of the survey participants. Action: Using the chi-square goodness of fit test and either Excel or Minitab, determine whether age...
What law(s) was/were enacted to forbid monopolization and attempts to monopolize and Microsoft had to fight?...
What law(s) was/were enacted to forbid monopolization and attempts to monopolize and Microsoft had to fight? Explain
A new tax cut law was passed on December 22, 2017. From that time until September...
A new tax cut law was passed on December 22, 2017. From that time until September 2019, the U.S. Census Bureau reported that the U.S. Poverty Rate fell from 13.2 percent in 2008 to 11.8 percent. This was the lowest U.S. poverty rate since 2001. Also, the Median U.S. household income, which hardly moved from 2007 to 2016 (range $58,149 to $59,039), shot upward within 20 months to $63,179 as of September 2019. Everything said up to this point is...
Suppose a law is passed that requires teachers to be paid the same wage as other...
Suppose a law is passed that requires teachers to be paid the same wage as other college graduates who work in business. Predict the effects of this law on the market for teachers.
Should the federal budget always be balanced? If yes, why yes? If no, why no? with...
Should the federal budget always be balanced? If yes, why yes? If no, why no? with the online sources
A bill that has passed becomes this; also found in the name of a specific law...
A bill that has passed becomes this; also found in the name of a specific law is called
What law should the U.S. have in place? And why? Explain the need for the law....
What law should the U.S. have in place? And why? Explain the need for the law. Examples: Free breakfast & lunch for all students. Having a maximum wage. Not letting standardized testing be the determining factor of pass or fail of a grade.
1. In 1809, Massachusetts enacted a law that said that shareholders would face joint-and-several unlimited liability....
1. In 1809, Massachusetts enacted a law that said that shareholders would face joint-and-several unlimited liability. What is joint-and-several shareholder unlimited liability? - 2. In the early 19th century, New York law allowed entrepreneurs in certain industries to become corporations without getting a special charter from the state legislature. Why was this “general incorporation” better for companies? - 3. How could limited liability promote business? - 4. For its opponents, what is wrong with unlimited liability and what were its...
The tax relief law (for Covid) passed by Congress last month created the Paycheck Protection Program....
The tax relief law (for Covid) passed by Congress last month created the Paycheck Protection Program. The programs provides loans to small businesses. However, provided the small business spends the loan amounts on certain items, such as payroll and rent, the loan does not need to be paid back. The law also states that the forgiven debt will not be included in gross income. BRIEFLY state whether you think the expenses (payroll and rent) that the taxpayer / recipient uses...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT