Question : The government agency responsible for preparing the federal budget in the United States is the:
Option 1: Federal Reserve
Option 2: Treasury Department
Option 3: Office of Management and Budget
Option 4: Internal Revenue Service
Correct Answer: Office of Management and Budget
Solution : The correct answer is (c) Office of Management and Budget.
The government agency responsible for preparing the federal budget in the United States is the Office of Management and Budget (OMB). The OMB is an executive branch agency that assists the President in developing and implementing the federal budget. It plays a central role in coordinating budgetary matters across government agencies, reviewing agency budget proposals, and providing policy analysis and guidance to the President.
