CDFM All Modules FISCAL LAW| Complete questions with correct answers| Latest 2026/2027

CDFM All Modules FISCAL LAW| Complete questions with correct answers| Latest 2026/2027 T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? Article 1 Section 8 clause 1, Article 1 Section 9 clause 7 T/F? Article 2 section 8 empowers Congress to collect taxes and Section 9 requires appropriations in law before money can be spent from the Treasury? FALSE The penalty for willfully and knowingly violating the Anti Deficiency Act is? Up to 2 years and a $5,000 fine or both Over obligation of an appropriation or funds and obligations or contracts in advance of an appropriation is a violation of? 31 USC 1341a ________ appropriations is (are) no longer available for adjustments or payments any adjustments will be charged to current same appropriation (1% max)? Cancelled Over-obligations of apportionments, allotments or other subdivision of funds are a violation of? 31 USC 1517 T/F? Not knowingly or willfully committing a violation of the Anti-Deficiency Act does not, by itself, justify a decision to not impose disciplinary action against the individual? TRUE It is the responsibility of the _____ to review and approve the agency systems of administrative control of funds to prevent violations of the Anti-Deficiency Act? OMB Acceptance of voluntary service is a violation of? 31 USC 1342 Prescribe rules and procedures for budget execution. Many of the specific provisions were previously enacted as Section 3679 of the revised statutes also known as the Anti-Deficiency Act? Chapters 13 and 15, 31 USC The Basic substantive legislation enacted by Congress that sets up or continues the legal operation of a Federal program or agency either indefinitely or for a specific time frame or sanctions a particular type of obligation or expenditure within a program is? Authorization T/F? For no year and unexpired multiyear contracts, apportioned recoveries of prior year obligations are available for new obligations? TRUE Is the shift from one purpose or activity to another within the same appropriations?