Question : In the United States, the budget is prepared by:
Option 1: The President
Option 2: The Congress
Option 3: The Treasury Department
Option 4: The Federal Reserve
Correct Answer:
The President
Solution : The correct answer is (a) The President.
In the United States, the budget is prepared by the President of the United States. The President is responsible for submitting a budget proposal to Congress, which outlines the government's revenue and expenditure plans for the upcoming fiscal year. The budget proposal includes details on various government programs, policies, and funding priorities. While the President prepares the budget, it is ultimately Congress that has the authority to approve, modify, and pass the budget through the legislative process.
