The Budget and Accounting Act of 1921:
A)created chaos in the federal budget process.
B)caused a rift within the Democratic party concerning the budget.
C)formed a new Bureau of the Budget to streamline the process of preparing an annual federal budget.
D)imposed a tax to rewrite the budget process.
E)brought an end to state budgets.

Question

Quizplus · Accepted Answer

The Budget and Accounting Act of 1921 created the Bureau of the Budget, which was responsible for preparing the annual federal budget and streamlining the budget process. This act aimed to improve fiscal responsibility by providing a more centralized approach to managing federal finances. It did not cause chaos or rifts within political parties and did not impose a tax or affect state budgets.