M1 - The Federal Budget Cycle
Quiz by Jimmy Severson
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
10 questions
Show answers
- Q1In what year was the "Congressional Budget and Improvement Act" signed into law?177619742018199945s
- Q2What is a deficit?Total budget outlays exceeds total receipts in a fiscal yearFiscal years Federal payments to the US TreasuryCongressional over-sight of fiscal policyThe Gross National Product minus outlays45s
- Q3CBO Stands for?Congressional Budget OfficeConstantly Being OffendedComprehensive Budget OfficialCompleted Budget Office45s
- Q4The definition of budget authorization is - the authority provided by law to enter into obligations that will result in outlays of the Executive Branch.falsetrueTrue or False45s
- Q5Appropriations are:
Provision of funds, through an annual appropriations act or a permanent law, for Federal agencies to make payments out of the Treasury for any reason
Provision of funds, through an annual appropriations act or a permanent law, for Federal agencies to make payments out of the Treasury for specific purposesProvision of funds, through a semi-annual appropriations act or a permanent law, for Federal agencies to make payments out of the Treasury for any reasonProvision of funds, through an annual appropriations act or a permanent law, for Congress to make payments out of the Treasury for specified purposes45s - Q6Prior to 1974, Congress had no formal process for establishing a Federal budget.falsetrueTrue or False45s
- Q7How many key steps are in the Federal budget process?
22
185345s - Q8_____ is the start of a new Federal fiscal year and _____ is the end of the Federal fiscal year.
Jan 1, Dec 31
Oct 31, Sep 30Nov 1, Oct 31Oct 1, Sep 30
45s - Q9Who signs a Federal budget into law?SenateHouseChairman Ways and Means committee
President of the United States
45s - Q10A continuing Resolution does not effect a sales organization selling into the Federal marketfalsetrueTrue or False45s