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The state of Alabama has legally earmarked around 85 percent of its state budget. This means that…
a. In the annual appropriation process, members of the state legislature typically earmark particular locations in which spending will occur, thereby preventing administrative discretion in how appropriated funds get used.
b. 85 percent of the money received for the state budget is allocated to particular uses in permanent law and is not subject to annual allocation by the legislature.
c. Individuals may receive benefits from the state if they meet criteria established in the earmarking legislation.
d. 85 percent of the budget is legally under control of the state legislature.
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Evaluate venture's present value, cash and surplus cash and basic venture capital.
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