The EU budgetary process involves two steps that are
a. an intergovernmental negotiation held every five years to establish a multiyear financial perspective and an annual review by the European Parliament.
b. an intergovernmental negotiation held every five years to establish a multiyear financial perspective and an annual review by both the Commission and the European Parliament.
c. the Commission proposing an annual budget and the European Parliament approving it.
d. the European Union Council establishing a five-year framework, which is followed by a complex annual process of the Council of Ministers, the Commission and the European Parliament writing a budget.
e. an intergovernmental negotiation held every five years to establish a multiyear spending framework, which is followed by an annual budget writing process overseen by the Commission inconsultation with the European Parliament.
Question 2
General obligation bonds are
a. forbidden in most states.
b. paid off with user fees collected from the use of a specific facility, such as a toll road.
c. paid off with the jurisdiction's regular revenues.
d. paid off with special revenues secured through off-budget investments.
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