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66 Cards in this Set
- Front
- Back
Budget execution starts with ________.
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Issuance of treasury warrant
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The issuance of Treasury Warrants are the _____ ______ action taken after the President signs the bill into law.
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1st legal
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Continuing resolutions (CRs) initially last _____ days and are disigned to avoid violating the ________..
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30, Anti Deficiency
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SF-133 are reported _____ to the Office of Management and Budget (OMB)
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quarterly
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The size and complexity of the budget demands that the President take the recommendations of the ____ .
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Director OMB
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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.
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30th, continuing resolution
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A Constitution amendment may be rarified when approved by _____ of the States
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3/4
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The U.S. House of Representatives number ____ with a ___ and preface them with _____.
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Bills, 1, H.R.
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The US Senate numbers ____ with a ____ and preface them with ___.
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Bills, 1, S
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The six major steps of the Budget formulation are:
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OMB'S guidance, organization develops draft, agency submits to OMB, OMB reviews, President takes action, sent to Congress
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The Budget formulation phase starts as early as _____ months out.
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21
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Legislation in the US Congress can originate by:
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The recommendations of the Pres, Introduced by the members, introduced by Committee
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The 4 phases of the budget process are:
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Formulation, Congressional Action, Budget Execution, Perf. & Audit
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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).
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Feb
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The Federal Budget is the ____ Budget.
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President's
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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.
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Pocket veto
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In this process, the President does not favor a bill and returns it to the house of origin without his approval.
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Veto
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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______.
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Does not sign but allows to become law
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In the ________ process, the President signs a bill which is then delivered to the Archivist and designated serially as public law.
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Approval and Signature
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True or false: Having more conferees in conference committees gives you a greater advantage in Congressional deliberations.
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FALSE
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There are ____ appropriations bills passed each year.
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13
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The US Constitution took effect in _____.
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March 4, 1789
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_______ are the totals included in the budget for budget authority, outlays, and receipts.
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Budget Totals
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The _____ power shall be vested in a President of the United States of America.
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Executive
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If Congress is not adjourned and a bill is not returned by the President in ___ days it____.
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10, becomes law as if he signed it
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All bills for raising revenues originate in the ________.
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House of Representatives
Legislative branch |
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The Vice President is the President of the ____ and cast a vote___
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Senate, only when the Senate is equally divided
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The terms for members of the legislature are ___ for the ___ and ____ for the ___>
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2 years, House, 6 years Senate
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The 1st paragraph of the Constitution is called the _____.
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Preamble
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True or false? Any yearly accounting period without regard to a calendar year is a fical year.
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TRUE
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The US Constitution was 1st ratified by ____ states in ____.
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9, 1788
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The Declaration of Independence was adopted on _____.
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July 4, 1776
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In what article of the Constitution is the power to raise taxes found?
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I
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The document that preceded the US Constitution and was used as a basis for foundation of the US Government was ______.
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The Articles of Confederation
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The 3 branches of the US government are:
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Executive, Legislative, Judicial
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Within ___ days of appropriation, each agency negotiates it's apportionments.
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10
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The 2 houses of the legislature are the _____ and the ____.
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Senate and House of Representatives
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The Federal budget represents Approximately ____ of the Gross domestic Product (GDP).
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1/5
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Social Security taxes accounts for approximately ____ of the total US revenue.
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34%
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Corporate Income taxes accounts for approximately____ of the total US revenue.
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10%
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Individual Income taxes account for approximately ___ of the total US revenues.
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48%
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The resources used by the Federal Government to pay it bills comes mostly from____.
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Individual taxes
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The Instructions on Budget Execution, can be found in _______.
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OMB Circular A-34
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The Preparation and Submission of Budget Exhibits is found in _____
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OMB Circular A-11
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_______ is the administrative reservation of funds in anticipation of a future obligation.
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Commitments
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The total of all direct ____ spending is ___ and ____ spending is ____.
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Mandatory, 65%, discretionary, 35%
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_______ 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.
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Expenditure
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The ____ establishes the discretionary spending limits for FY 1994-1998
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1993 Omnibus Reconciliation Act
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The two balanced budget control acts are named after their sponsors ______.
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Gramm-Rudmann-Hollins
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True or false? The two types of spending categories established by the 1990 Budget Enforcement Act are apportioned and mandatory.
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FALSE
the two types of spending are Mandatory and Discretionary |
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The ________ divided spending into two major categories ______ and ______.
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1990 Budget Enforcement Act, mandatory and discretionary
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The ______ revised sequestration procedures from fixed to adjustable targets.
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1987 Balanced Budget and Emergency Deficit Control Reaffirmation Act
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The _______ established deficit reduction goals aimed at a balanced budget and established sequestration procedures when agency budgets exceeded limits.
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1985 Balanced Budget and Emergency Deficit Control Act
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____ refers to the time when the government check is cashed and money is withdrawn from the US Treasury.
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outlay
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A/An _______ results from orders placed, contracts awarded/signed services received or similar transactions. This is the legal reservation of funds.
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obligation
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Of the total of all spending, Defense discretionary account for ____ while non defense discretionary is____.
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16% and 19%
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______ is the amount by which the Govt budget outlays exceed its budget receipts for any given period.
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Budget deficit????Surplus
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____ is the authority provided by Congress in an Appropriations Act. It is the authority to enter into obligations.
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Budget Authority
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The ____ of 1990 specifies organization and reporting requirements to improve government-wide financial management.
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CFO Act
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_______ is the shift from one purpose or activity to another within the different appropriations.
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Transfer
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_______ is the shift from one purpose or activity to another within the same appropriations.
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Reprogramming
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The concept of fund allotments is to place _______ and _____ authority to the lowest practical level.
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Obligational and operational
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The _____ is given the power to lay and collect taxes in Article ____ of the Constitution.
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Congress, I
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A(n) ____ is a general legislative proposal.
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Bill
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The _____ power of the United States rests with one Supreme Court and in such inferior Courts as Congress may ordain from time to time.
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Judicial
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A veto by the President can be overturned by ______.
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A 2/3 vote of each House
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