Basic fiscal law - Study guides, Class notes & Summaries

"The established rule is that the expenditure of public funds is proper only when authorized by Congress," describes _____ Correct Answer Affirmative Authority ______ has the ability to appropriate funds to be spent by the federal government. Correct Answer Congress The three main elements that must be met before funds are obligated are Correct Answer Purpose Time Amount To apply reasonably discretion and flexibility, the Government Accountability Office (GAO) developed the concept

CDFM - Module 3 questions with complete solutions 2022/2023What are the three tests that must be met for use of the Necessary Expense doctrine? Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? The Defense Finance and Accounting Service (DFAS) (p. 3.1.51) What type of budgetary resources remains available for new obligatio...

Fiscal Law 3.1 Exam – With Questions & Solutions (100% Correct) Fiscal Law 3.1 Exam – With Questions & Solutions (100% Correct) Federal appropriations law can be categorized into which three topical areas? - ANSWER - Purpose, Time, and Amount In the DoD final decisions of fiscal law questions are "officially" rendered by whom? - ANSWER - DoD General Council What are the basic types of budget authority used in the Federal Government? - ANSWER - Appropriations; Contract Authori...

Which political view of foreign direct investment (FDI) is most widely used by governments in the current international business environment? - Correct answerProtectionism Which factors predict the degree of rivalry between a pair of competitors? 2 choices - Correct answer-Market commonality and Cost structure Which factors predicts how local firms in emerging economics will respond to multinational competitors? Competitive assets and industry pressures to globalize - Correct answer-Market...

Basic Fiscal Law Exam Review

CDFM Module 3 Exam Questions with Complete Solutions | New Update 2024 Federal appropriations law can be categorized into which three topical areas? - Answer ️️ - Purpose, Time and Amount In the Department of Defense, final decision of fiscal law questions are "officially" rendered by whom? - Answer ️️ -DoD General Counsel, Courts What are the basic types of budget authority used in the Federal Government? - Answer ️️ - Appropriations Contract Authority Borrowing Authority...

normative statement an opinion that cannot be confirmed by referencing facts positive statement a statement that can be proved by referencing facts why are economic models used? theories cannot be tested in a controlled environment the basic economic problem scarcity - consumer wants are always greater than available resources opportunity cost the next best alternative foregone factors of production resources used by a firm in production list and define the factors of production lab...

________________ funds are available for new obligations for a period of 5 years. Anti deficiency Act Principles state that you can receive services without paying for them as benefit to the government. False ________________ has the ability to appropriate funds to be spent by the federal government. Congress Under the "Separation of Powers" doctrine established by the Constitution, the _____________ carries out the laws with the money Congress provides. The _____...

What is the type of government policy that governs taxing and spending powers? Be able to explain how it affects the economy. Ans: Fiscal policy is the government's use of taxing, monetary, and spending powers to manipulate the economy. It uses tax to raise the revenue Determines amount of productive resources that govt. for non economic demand Know what priority is placed on promoting human rights by the United States. How does it rank in comparison to other foreign policy concerns ...

CDFM 3.1 Fiscal Law Final Test || With 100% Accurate Questions & Solutions CDFM 3.1 Fiscal Law Final Test || With 100% Accurate Questions & Solutions It is the responsibility of the _____ to review and approve the agency systems of administrative control of funds to prevent violations of the Anti-Deficiency Act. - ANSWER - OMB Acceptance of voluntary service is a violation of _________ - ANSWER - 31,. USC 1342 _____ is the shift from one purpose or activity to another within differ...