Reference no: EM133535194
Question
1. Which of the following items does break-even analysis attempt to determine?
Levels of grant payments
The point at which total costs equal total revenues
Levels of transfer payments
2. When justifying a budget request (in narrative form), which of the following should be included in the request? Select all that apply.
Budget request counterarguments
What you want to do
Why you want to do it
A list of required resources
3. Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would have allowed him to do that?
He could have requested executive transfers out of the Drug Enforcement Administration to the Department of the Treasury impoundment fund.
He could have created a new governing policy or federal law.
He could have requested a financial audit of the Drug Enforcement Administration.
Congress could have approved a recession.
4. Which of the following statements best describes a key issue in the finances of many state and local government pension programs?
States assume the obligations of local pension programs.
Many state and local governments make inadequate contributions into the pension funds to support promised future benefits.
Pension managers use an interest or discount rate that is too low when determining the amount of money to be set aside each year to cover future benefits.
State and local governments improperly divert public revenues into pension funds to garner political support from government employees.
5. Which of the following did the Balanced Budget and Emergency Deficit Control Act of 1985 do?
Create a line-item veto
Establish declining deficit targets aiming toward a balanced budget in 1991
Require a decline in the federal debt, at least through 1991
Require that actual federal outlays be no greater than receipts by 1991
6. Scenario: The appropriation to the state library system (fiscal year starts July 1) for fiscal 2018 was $15 million. On December 31, 2017, its budget reports showed expenditures of $7.5 million and encumbrances outstanding of $500,000. Quarterly allotments were as follows: Q1: $3.75 million; Q2: $4.5 million; Q3: $3.75 million; and Q4: $3 million. What was the status of system operations at that point?
System operations were consistent with the plan; half the year had elapsed and half the money was spent.
System operations were over the plan by $250,000.
System operations were under plan by $750,000.
System operations were under plan by $250,000.
7. Which of the following does NOT describe a difference between budgeting in states and budgeting in the federal government?
Many states require a balanced budget each year; however, the federal government does not.
Most states provide pensions for their career employees; however, the federal government only requires that its employees participate in Social Security.
Many states pass a single appropriation/budget law; however, the federal government is expected to pass more than ten appropriation/budget bills.
Many states prepare biennial budgets; however, the federal government prepares an annual budget.
8. Which of the following statements about state budget processes is correct?
States normally spend through systems of entitlements instead of appropriations.
All states require biennial budgets.
Not all states have budget messages prepared by the governor.
All governors have line-item veto power.
9. Which of the following is a best practice used by budget analysts in review of agency budgets? Select all that apply.
Compare proposed budget with prior year and current year budget and actual expenditures to identify areas that may be reduced without great trouble
Ensure the work environment is suitable for budget, finance, and planning
Cut departments with "bad" reputations
Recommend repair and renovation rather than replacement of facilities
10. A continuing resolution enables an agency to do which of the following tasks?
Continue operations in a fiscal year, despite the fact that it overspent its appropriation for the prior fiscal year
Continue operations in a fiscal year, despite the fact that it overspent its appropriation for that fiscal year
Negotiate its appropriations between the House and the Senate
Continue operations in a fiscal year, despite the fact that it has received no appropriation for that year