CDFM 3.1 Fiscal Law Exam Questions with Correct Answers

CDFM 3.1 Fiscal Law Exam Questions with Correct Answers True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the . - ANSWER 31 USC 1341, 1342, and 1517 (Anti- Deficiency Act) The appropriation time line for Military Construction is years. - ANSWER 5 The appropriation time line for Procurement (excluding Shipbuilding and Conversion, Navy) is years. - ANSWER 3 The 2 provisions of the US Constitution that provide the underpinning for the budget process are . - ANSWER 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 . - ANSWER No-Year Authority The governs the congressional budget, defines key budget term and establishes house and senate budget committees and the Congressional Budget Office. - ANSWER Congressional Budget Act of 1974