BCF 110 Module 9 EXECUTION EXAM PART 2:
Fiscal Law questions well answered to pass
1. This law requires that funds appropriated by Congress -Bona Fide
Needs Rule
only be used for the programs and intentions for which -Ant
deficiency Act
the appropriation was made. -*Purpose Statute*
2. An operational Navy base used $150,000 of FY 2015 Op- -Violated the
Bona Fide
erations and Maintenance (O&M) funds to award a jan- Need Rule
itorial contract covering the period June 2015 -Violated the Ant
through October 2015. Assuming that deficiency Act
janitorial contracts on this base are ordinarily -*Did not violate any
financed with O&M funds, this action most fiscal laws*
likely: (select one) -Violated the Purpose
Statute
-*True*
3. True or False. Investigations into fiscal law
violations
are led by the Government Accountability Office (GAO). -False
4. True or False. The consequences for those who -*True*
inten- tionally violate fiscal laws may include -False
fines and/or im- prisonment.
5. True or False. When faced with uncertainty -*True*
regarding
the appropriation of funds, Financial Managers
should -False first check with higher
authority/Comptroller prior to obligating the funds
to ensure there is no problem with possible
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Fiscal Law questions well answered to pass
1. This law requires that funds appropriated by Congress -Bona Fide
Needs Rule
only be used for the programs and intentions for which -Ant
deficiency Act
the appropriation was made. -*Purpose Statute*
2. An operational Navy base used $150,000 of FY 2015 Op- -Violated the
Bona Fide
erations and Maintenance (O&M) funds to award a jan- Need Rule
itorial contract covering the period June 2015 -Violated the Ant
through October 2015. Assuming that deficiency Act
janitorial contracts on this base are ordinarily -*Did not violate any
financed with O&M funds, this action most fiscal laws*
likely: (select one) -Violated the Purpose
Statute
-*True*
3. True or False. Investigations into fiscal law
violations
are led by the Government Accountability Office (GAO). -False
4. True or False. The consequences for those who -*True*
inten- tionally violate fiscal laws may include -False
fines and/or im- prisonment.
5. True or False. When faced with uncertainty -*True*
regarding
the appropriation of funds, Financial Managers
should -False first check with higher
authority/Comptroller prior to obligating the funds
to ensure there is no problem with possible
1/
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