CDFM All Modules FISCAL LAW
EXAM-GRADED A
True or false? A working capital (Revolving) fund or part of that fund cannot violate the
Anti Deficiency Act. - ANS-FALSE
Agencies are responsible for maintaining a system of accounting and internal controls to
avoid violations of the _________. - ANS-31 USC 1341, 1342, and 1517 (Anti-
Deficiency Act)
The appropriation time line for Military Construction is _______ years. - ANS-5
The appropriation time line for Procurement (excluding Shipbuilding and Conversion,
Navy) is _______ years. - ANS-3
The 2 provisions of the US Constitution that provide the underpinning for the budget
process are ______. - ANS-Article 1 Section 8 clause 1, Article 1 Section 9 clause 7
The budgetary resources that are available for new obligations until the purposes for
which were provided are carried out are called _________. - ANS-No-Year Authority
The ________ governs the congressional budget, defines key budget term and
establishes house and senate budget committees and the Congressional Budget Office.
- ANS-Congressional Budget Act of 1974
True or false? Article 2 section 8 empowers Congress to collect taxes and Section 9
requires appropriations in law before money can be spent from the Treasury. - ANS-
FALSE
The appropriation time line for R & D is ________ years. - ANS-2
The penalty for willfully and knowingly violating the Anti Deficiency Act is ______. -
ANS-Up to 2 years and a $5,000 fine or both
Over obligation of an appropriation or funds and obligations or contracts in advance of
an appropriation is a violation of _______. - ANS-31,. USC 1341(a)
________ appropriations is (are) no longer available for adjustments or payments any
adjustments will be charged to current same appropriation (1% max) - ANS-Cancelled
EXAM-GRADED A
True or false? A working capital (Revolving) fund or part of that fund cannot violate the
Anti Deficiency Act. - ANS-FALSE
Agencies are responsible for maintaining a system of accounting and internal controls to
avoid violations of the _________. - ANS-31 USC 1341, 1342, and 1517 (Anti-
Deficiency Act)
The appropriation time line for Military Construction is _______ years. - ANS-5
The appropriation time line for Procurement (excluding Shipbuilding and Conversion,
Navy) is _______ years. - ANS-3
The 2 provisions of the US Constitution that provide the underpinning for the budget
process are ______. - ANS-Article 1 Section 8 clause 1, Article 1 Section 9 clause 7
The budgetary resources that are available for new obligations until the purposes for
which were provided are carried out are called _________. - ANS-No-Year Authority
The ________ governs the congressional budget, defines key budget term and
establishes house and senate budget committees and the Congressional Budget Office.
- ANS-Congressional Budget Act of 1974
True or false? Article 2 section 8 empowers Congress to collect taxes and Section 9
requires appropriations in law before money can be spent from the Treasury. - ANS-
FALSE
The appropriation time line for R & D is ________ years. - ANS-2
The penalty for willfully and knowingly violating the Anti Deficiency Act is ______. -
ANS-Up to 2 years and a $5,000 fine or both
Over obligation of an appropriation or funds and obligations or contracts in advance of
an appropriation is a violation of _______. - ANS-31,. USC 1341(a)
________ appropriations is (are) no longer available for adjustments or payments any
adjustments will be charged to current same appropriation (1% max) - ANS-Cancelled
