CDFM Module 1 Exam Practice with Complete Solutions| Latest Update | Verified & Updated

CDFM Module 1 Exam Practice with Complete Solutions| Latest Update | Verified & Updated Genesis of US federal process can be traced to these events - Answer ️️ -Declaration of independence, Articles of Confederation, Constitution ratified by 9 states, constitution took effect. What did amendment to articles of confederation require? - Answer ️️ -Unanimous approval of all the states Essential principle of constitution? - Answer ️️ -Everything you do must be legal in purpose, time and amount. What are the first 10 amendments to the consitution called? - Answer ️️ -Bill of rights What does Article 1, Section 8 of the Constitution state? - Answer ️️ -Congress shall have the authority to make all laws which shall be necessary and proper for carrying into execution. What does the preamble to the constitution of the US begin with and how do we exercise its sentiment? - Answer ️️ -We the people, through elections. What constitutional amendment is known as states rights? - Answer ️️ -Amendment 10 First required president to submit annual budget proposal to congress AND established OMB/GAO? - Answer ️️ -1921 Budget and Accounting Act What act shifted congress to focus on overall budgt totals, created new budget committees in each house and shifted the fiscal year from July to October? - Answer ️️ -1974 Congressional Budget and Impoundment Control Act What prohibts the president from witholding funds without sufficient reason? - Answer ️️ - Impoundment Control Act of 1974