Cdfm Mcjunkin Mod1Com1

Front 1

Budget execution starts with ________.

Back 1

Issuance of treasury warrant

Front 2

The issuance of Treasury Warrants are the _____ ______ action taken after the President signs the bill into law.

Back 2

1st legal

Front 3

Continuing resolutions (CRs) initially last _____ days and are disigned to avoid violating the ________..

Back 3

30, Anti Deficiency

Front 4

SF-133 are reported _____ to the Office of Management and Budget (OMB)

Back 4

quarterly

Front 5

The size and complexity of the budget demands that the President take the recommendations of the ____ .

Back 5

Director OMB

Front 6

If Congress and the President do not complete action on all appropriation by ____ of September a _____ is passed by both houses to avoid a shutdown of government.

Back 6

30th, continuing resolution

Front 7

A Constitution amendment may be rarified when approved by _____ of the States

Back 7

3/4

Front 8

The U.S. House of Representatives number ____ with a ___ and preface them with _____.

Back 8

Bills, 1, H.R.

Front 9

The US Senate numbers ____ with a ____ and preface them with ___.

Back 9

Bills, 1, S

Front 10

The six major steps of the Budget formulation are:

Back 10

OMB'S guidance, organization develops draft, agency submits to OMB, OMB reviews, President takes action, sent to Congress

Front 11

The Budget formulation phase starts as early as _____ months out.

Back 11

21

Front 12

Legislation in the US Congress can originate by:

Back 12

The recommendations of the Pres, Introduced by the members, introduced by Committee

Front 13

The 4 phases of the budget process are:

Back 13

Formulation, Congressional Action, Budget Execution, Perf. & Audit

Front 14

The law requires that on or after the 1st Monday in January but no later than the 1st Monday in _____ the President must submit to Congress the proposed budget for the next fiscal year (FY).

Back 14

Feb

Front 15

The Federal Budget is the ____ Budget.

Back 15

President's

Front 16

In the ______ process the Congress is adjourned and President fails to sign a bill in the 10 day period and the bill does not become law.

Back 16

Pocket veto

Front 17

In this process, the President does not favor a bill and returns it to the house of origin without his approval.

Back 17

Veto

Front 18

In this process, the president does not return a bill within 10 days. He does not desire to approve it, but is unwilling to veto. This is called______.

Back 18

Does not sign but allows to become law

Front 19

In the ________ process, the President signs a bill which is then delivered to the Archivist and designated serially as public law.

Back 19

Approval and Signature

Front 20

True or false: Having more conferees in conference committees gives you a greater advantage in Congressional deliberations.

Back 20

FALSE

Front 21

There are ____ appropriations bills passed each year.

Back 21

13

Front 22

The US Constitution took effect in _____.

Back 22

March 4, 1789

Front 23

_______ are the totals included in the budget for budget authority, outlays, and receipts.

Back 23

Budget Totals

Front 24

The _____ power shall be vested in a President of the United States of America.

Back 24

Executive

Front 25

If Congress is not adjourned and a bill is not returned by the President in ___ days it____.

Back 25

10, becomes law as if he signed it

Front 26

All bills for raising revenues originate in the ________.

Back 26

House of Representatives
Legislative branch

Front 27

The Vice President is the President of the ____ and cast a vote___

Back 27

Senate, only when the Senate is equally divided

Front 28

The terms for members of the legislature are ___ for the ___ and ____ for the ___>

Back 28

2 years, House, 6 years Senate

Front 29

The 1st paragraph of the Constitution is called the _____.

Back 29

Preamble

Front 30

True or false? Any yearly accounting period without regard to a calendar year is a fical year.

Back 30

TRUE

Front 31

The US Constitution was 1st ratified by ____ states in ____.

Back 31

9, 1788

Front 32

The Declaration of Independence was adopted on _____.

Back 32

July 4, 1776

Front 33

In what article of the Constitution is the power to raise taxes found?

Back 33

I

Front 34

The document that preceded the US Constitution and was used as a basis for foundation of the US Government was ______.

Back 34

The Articles of Confederation

Front 35

The 3 branches of the US government are:

Back 35

Executive, Legislative, Judicial

Front 36

Within ___ days of appropriation, each agency negotiates it's apportionments.

Back 36

10

Front 37

The 2 houses of the legislature are the _____ and the ____.

Back 37

Senate and House of Representatives

Front 38

The Federal budget represents Approximately ____ of the Gross domestic Product (GDP).

Back 38

1/5

Front 39

Social Security taxes accounts for approximately ____ of the total US revenue.

Back 39

34%

Front 40

Corporate Income taxes accounts for approximately____ of the total US revenue.

Back 40

10%

Front 41

Individual Income taxes account for approximately ___ of the total US revenues.

Back 41

48%

Front 42

The resources used by the Federal Government to pay it bills comes mostly from____.

Back 42

Individual taxes

Front 43

The Instructions on Budget Execution, can be found in _______.

Back 43

OMB Circular A-34

Front 44

The Preparation and Submission of Budget Exhibits is found in _____

Back 44

OMB Circular A-11

Front 45

_______ is the administrative reservation of funds in anticipation of a future obligation.

Back 45

Commitments

Front 46

The total of all direct ____ spending is ___ and ____ spending is ____.

Back 46

Mandatory, 65%, discretionary, 35%

Front 47

_______ occurs when a check is issued (or funds are transferred electronically) to a contractor in response to an invoice/payment request for costs incurred, services rendered, products delivered.

Back 47

Expenditure

Front 48

The ____ establishes the discretionary spending limits for FY 1994-1998

Back 48

1993 Omnibus Reconciliation Act

Front 49

The two balanced budget control acts are named after their sponsors ______.

Back 49

Gramm-Rudmann-Hollins

Front 50

True or false? The two types of spending categories established by the 1990 Budget Enforcement Act are apportioned and mandatory.

Back 50

FALSE
the two types of spending are Mandatory and Discretionary

Front 51

The ________ divided spending into two major categories ______ and ______.

Back 51

1990 Budget Enforcement Act, mandatory and discretionary

Front 52

The ______ revised sequestration procedures from fixed to adjustable targets.

Back 52

1987 Balanced Budget and Emergency Deficit Control Reaffirmation Act

Front 53

The _______ established deficit reduction goals aimed at a balanced budget and established sequestration procedures when agency budgets exceeded limits.

Back 53

1985 Balanced Budget and Emergency Deficit Control Act

Front 54

____ refers to the time when the government check is cashed and money is withdrawn from the US Treasury.

Back 54

outlay

Front 55

A/An _______ results from orders placed, contracts awarded/signed services received or similar transactions. This is the legal reservation of funds.

Back 55

obligation

Front 56

Of the total of all spending, Defense discretionary account for ____ while non defense discretionary is____.

Back 56

16% and 19%

Front 57

______ is the amount by which the Govt budget outlays exceed its budget receipts for any given period.

Back 57

Budget deficit????Surplus

Front 58

____ is the authority provided by Congress in an Appropriations Act. It is the authority to enter into obligations.

Back 58

Budget Authority

Front 59

The ____ of 1990 specifies organization and reporting requirements to improve government-wide financial management.

Back 59

CFO Act

Front 60

_______ is the shift from one purpose or activity to another within the different appropriations.

Back 60

Transfer

Front 61

_______ is the shift from one purpose or activity to another within the same appropriations.

Back 61

Reprogramming

Front 62

The concept of fund allotments is to place _______ and _____ authority to the lowest practical level.

Back 62

Obligational and operational

Front 63

The _____ is given the power to lay and collect taxes in Article ____ of the Constitution.

Back 63

Congress, I

Front 64

A(n) ____ is a general legislative proposal.

Back 64

Bill

Front 65

The _____ power of the United States rests with one Supreme Court and in such inferior Courts as Congress may ordain from time to time.

Back 65

Judicial

Front 66

A veto by the President can be overturned by ______.

Back 66

A 2/3 vote of each House