ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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REPORTING ENTITY Definition
REPORTING ENTITY is the legal entity for which financial reports are prepared and made available.
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LLC is Limited Liability Corporation.
DISCRETIONARY SPENDING consists of US government expenditures that are set on an annual basis. It is a budget that members of Congress can adjust on a yearly basis. Examples of discretionary spending in the United States:
-Environmental Protection Agency
-Department of Veterans Affairs
When looking to cut costs, lawmakers usually look to trimming discretionary spending. See MANDATORY SPENDING.