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CDFM MODULE 1

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Exam study book Government Accounting and Budgeting of Donald John Hardman - ISBN: 9783031250668 (CDFM MODULE 1)

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CDFM MODULE 1,MODULE 2,MODULE 3 AND MODULE 4
EXAM REAL EXAM QUESTIONS AND CORRECT
ANSWERS(DETAILED ANSWERS)
How many branches of government did the Constitution establish? - ANSWER: Three

What was the predecessor to the Constitution? - ANSWER: Articles of Confederation

Where are all laws enacted? - ANSWER: Congress

In which article of the Constitution is the power to raise taxes found? - ANSWER: One

What occurs when Congress is not in session and the President does not sign a bill in
10 days? - ANSWER: Pocket Veto

What percentage of the Gross Domestic Product (GDP) of the US will the Federal
Spending represent in FY 12? - ANSWER: Twenty-three percent

Approximately what percent of total Federal spending is discretionary spending? -
ANSWER: Thirty-six percent

Which branch of government implements laws? - ANSWER: Executive Branch

Which branch of government is authorized to raise taxes and borrow money? -
ANSWER: Legislative Branch (Congress)

What is the name of the committees that attempt to resolve difference between
House and Senate versions of a bill? - ANSWER: Conference Committee (the Third
Chamber)

Which agency issues directions for use by other agencies in submitting their budget?
- ANSWER: Office of Management and Budget (OMB)

What type of legislation provides an agency with budget authority? - ANSWER:
Appropriation Acts provides budget authority

What term is used to describe a subdivision of an apportionment? - ANSWER:
Allotment

What agency issues apportionment? - ANSWER: Office of Management and Budget
(OMB)

Which branch of government conducts hearings on the effectiveness of government
programs? - ANSWER: Legislative Branch (Congress)

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