Cdfm 31 Study guides, Class notes & Summaries

CDFM 3.1 Fiscal Law Exam Questions with Correct Answers True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the . - ANSWER 31 USC 1341, 1342, and 1517 (Anti- Deficiency Act) The appropriation time line for Military Construction is years. - ANSWER 5 The appropriation time line for Procurement (excluding Shi...

CDFM MODULE 3.1 What is the basic axiom of Fiscal Law? - ANSWER- The established rule is that the expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use of appropriated funds be found? Who is it published by?" - ANSWER- Principles of Federal Appropriations better known as the Red Book-- published by the GA...

CDFM 3.1 FISCAL LAW 2024 QUESTIONS AND ANSWERS VERIFIED. True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - CORRECT ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the _________. - CORRECT ANSWER 31 USC 1341, 1342, and 1517 (Anti-Deficiency Act) The appropriation time line for Military Construction is _______ years. - CORRECT ANSWER 5 The appropria...

CDFM Module 3.1 Fiscal Law Basic Axiom of Fiscal Law (the premise of fiscal law) The established rule: Expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. Common Law Which law: There is no law that says you can't do it. Fiscal Law Which Law: You can only do what the law authorized you to do. Constitutional Authority: Article 1, section 7,8,9 Provisions of the U.S Constitution that provid...

CDFM MODULE 3 Exam (Latest 2023/ 2024 Update) Complete Exam with 400+ Real Questions and Verified Answers| 100% Correct| Guaranteed Grade A Q: When funds were provided to begin a program or project in the middle of a fiscal year, you need to what? Answer: annualize the funds to determine the current rate. Q: If $1 billian was provided in an R&D appropriation last year and $750 million was obligated as of the end of the prior fiscal year, the amount of the appropriation under the ...

CDFM 3.1 Fiscal Law Questions with 100% Correct Answers | Updated & Verified

CDFM Training Module 1 Accurate questions Options - ANSWER Which is NOT a remedy to avoid conflict in financial disclosure? Authorized by Defense Finance and Accounting Services (DFAS). - ANSWER Under section 1501(a) (1), an amount shall be recorded as an obligation of the United States Government only when supported by documentary evidence of EXCEPT: Pursuant to 31 U.S.C. 1342, agencies have broad discretion in determining operations which protect life and property, so that these operatio...

CDFM Module 1 Complete Questions and AnsConstitution Article 1 - ANSWER Legislative Branch -power of the purse -passes laws -raises taxes -borrow money -regulate commerce -conscript forces -declare war -raise monies Constitution Article II - ANSWER Executive Branch -execute/implement laws -authority to make decision regarding military resources Constitution Article III - ANSWER Judicial -supreme court and power courts -interprets law OMB Circular A-11 - ANSWER Preparation, S...

True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - CORRECT ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the _________. - CORRECT ANSWER 31 USC 1341, 1342, and 1517 (Anti-Deficiency Act) The appropriation time line for Military Construction is _______ years. - CORRECT ANSWER 5 The appropriation time line for Procurement (excluding Shipb...

CDFM - MODULE 3 EXAM (4 DIFFERENT SUB MODULE 3.1 - 3.4) QUESTIONS AND CORRECT ANSWERS EACH SUB MODULE CONTAINS 100 QUESTIONS AND ANSWERS LATEST CDFM MODULE 3.1 What is the basic axiom of Fiscal Law? - ANSWER- The established rule is that the expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use...