>> Managerial Accounting
1. To assist in providing new revenues to the federal government, some have proposed a value added tax (VAT) similar to those employed in the United Kingdom and Canada. What are the pros and cons of introducing this kind of national sales tax?
2. Explain the formal federal budget process. In your view, what are some of the major challenges in this process?
3. There has been considerable discussion about the U.S. debt situation. Briefly outline the current situation and responses available to the government.
4. How does the government affect policy making?