What was the result of the Budget and Accounting Act of 1921?

Question

Quizplus · Accepted Answer

The Budget and Accounting Act of 1921 established the modern system for the preparation and submission of the federal budget, and it gave the president a central role in the budget process. Before this act, budget preparation was a piecemeal and disorganized process. The act required the president to submit to Congress a budget that included all expenditures and revenues of the federal government. It also established the Bureau of the Budget, which was responsible for preparing the president's budget proposal and for overseeing the administration's fiscal policies.

Note: None of the other choices are accurate descriptions of the Budget and Accounting Act of 1921. Choice A describes the Congressional Budget Office, which was created by the Congressional Budget and Impoundment Control Act of 1974. Choice B describes a rule change in the Senate that was made in 1975. Choice D refers to a more recent budgetary requirement that was first established in 1990.

What Was the Result of the Budget and Accounting Act