Answer:
The given statement is True
Explanation:
Federal budget presents the emergence and level of expenditure, revenues, management of funds of an accounting time span. The exact receipt and spending were included in the budget for every year. It starts by the Executive branch and President presents his budget plan to Congress.
Federal government works with agencies to implement the budget plan. Policy directions and guidance are issued by the OMB to the agencies for their budget request. After the transmittal of budget, a hearing on discussions regarding budget requests of the agencies was scheduled by OMB for the betterment of understanding of the budget.
