Fiscal Law Exam 1 || Questions & Answers (100% Correct)
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Fiscal Law
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Fiscal Law
Fiscal Law Exam 1 || Questions & Answers (100% Correct)
Fiscal Law Exam 1 || Questions & Answers (100% Correct)
"The established rule is that the expenditure of public funds is proper only when authorized by Congress," describes _____ - ANSWER - Affirmative Authority
______ has the ability t...
Fiscal Law Exam 1 || Questions &
Answers (100% Correct)
Conceptial Research
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, Fiscal Law Exam 1 || Questions &
Answers (100% Correct)
"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
Fiscal Law - ANSWER - Body of law governing use of federal funds
Fiscal Year - ANSWER - 1 October ‐ 30 September
Affirmative Authority governed by what: - ANSWER - • The U.S. Constitution
• Legislative Appropriations and Authorization Acts
• Judicial Court Rulings and Comptroller General decisions
DoD AA - ANSWER - Depart of Defense Appropriations Act
NDAA - ANSWER - National Defense Authorization Act
Necessary Expense Defined - ANSWER - • Must be reasonably necessary
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