Exam (elaborations)
asic Fiscal Law Exam Questions and Answers
- Course
- Institution
asic Fiscal Law Exam Questions and Answers
[Show more]
Seller
Follow
Wisdoms
Reviews received
Content preview
Basic Fiscal Law Exam Questions and Answers"The established rule is that the expenditure of public funds is proper only when authorized by
Congress," describes _____ - Answer - Affirmative Authority
______ has the ability to appropriate funds to be spent by the federal government. - Answer - Congress
The three main elements that must be met before funds are obligated are - Answer - Purpose
Time
Amount
To apply reasonably discretion and flexibility, the Government Accountability Office (GAO) developed
the concept known as the _______, which consists of a three part test. - Answer - necessary expense
rule
The bona fide needs rule allows you to maintain inventories at levels to avoid disruption of operations. -
Answer - true
A(n) ______ appropriation is to remain available until expended without fiscal year limitation. - Answer -
No-Year
Under the "Separation of Powers" doctrine, __________ has the final word on how much money can be
spent by a given agency or program. - Answer - Congress
The _________ Act prohibits against over obligating or overspending an appropriation. - Answer -
Antideficiency
______ is the body of law that governs the availability and use of federal funds. - Answer - Fiscal Law
Antideficiency Act Principles state that you can receive services without paying for them as a benefit to
the government. - Answer - False
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Wisdoms. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81531 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now