Fiscal Law 201 Study Guide And Complete Solutions 2024.

A(n) Commitment is an administrative reservation of funds and a(n) obligation creates a legal liability on behalf of the government to pay for goods and services ordered or received - Answer Commitment/Obligation The antideficiency act (ADA) prohibits - Answer involving the government in a contract or obligation for payment of money before an appropriation is made, unless authorized by law Where is the authorized purpose of an appropriation found? - Answer The appropriation act itself and its legislative history to include authorizing and organic legislature Fiscal law refers to the body o flaw governing the availability and use of Federal Funds. Which of the following is NOT a source that forms the basis of fiscal law - Answer Federal Acquisitions Regulations Analysis of appropriations uses ______ guidance, including the National defense Authorization Act; Department of Defense Appropriations Acts; the Federal Acquisition Regulation(FAR); and the Department of Defense Financial Management Regulation (DoD FMR) - Answer Authoritative If an accountable Official provides negligent information, data or services to a certifying officer that results in an erroneous or illegal payment, the accountable officer may be - Answer Financially liable Which of the following is an authority that allows interagency acquisitions - Answer Economy Act When employees violate the Antideficiency Act, they may be subject to appropriate administrative discipline. Which one of the following is an appropriate administrative discipline? - Answer Suspension from duty without pay A(n) ________ is the procedure when one agency needing supplies or services (requesting agency) obtains them through another Federal Government Agency (Servicing Agency) - Answer interagency Acquisition