CDFM(2024 Latest Update)Correct 100%

Borrowing Authority - ANSWER permits agencies to incur obligations and make payments to liquidate the obligations out of moneys borrowed from the Treasury Budget Authority - ANSWER Congress provides in appropriations act. This is the authority to enter into obligations that will result in outlays. Budget Deficit - ANSWER amount by which the Government's budget outlays exceed its budget receipts for any given period. Deficits are financed primarily by borrowing from the public. Budget Totals - ANSWER totals included in the budget for budget authority, outlays, and receipts. On-budget totals reflect the transactions of all Feral Government entities, except those excluded from the budget totals by law. Off-budget totals reflect the transactions of Government entities that laws exclude from the on-budget totals (ex. SSN and Postal Service). The buget presents combined on and off budget totals to derive totals for the Federal activity.