Fiscal Law CDFM Practice Exam And 100% Correct Answers 2024.
Federal appropriations law can be categorized into which three topical areas? - Answer Purpose, Time, and Amount (PTA)
In the DoD, final decisions 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? (6) - Answer 1. Appropriations
2. Contract Authority
3. Borrowing Authority
4. Monetary Credits
5. Offsetting Collections and Receipts
6. Loan and Loan Guarantee Authority
Annual appropriations remain available for new obligations for how long? - Answer They normally remain available for new obligations for ONE FY
O&M is an example of what type of appropriation? - Answer Annual appropriation
RDT&E is an example of what type of appropriation? - Answer Multi-year appropriation
Budget authority does not expire in what type of appropriation? - Answer No-year appropriation
Article 1, Section 9, of the U.S. Constitution gives the power to appropriate funds for operating the Government to which branch of the Government? - Answer Legislative Branch (Congress)
Federal appropriations law can be categorized into which three topical areas? - Answer Purpose, Time, and Amount (PTA)
In the DoD, final decisions 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? (6) - Answer 1. Appropriations
2. Contract Authority
3. Borrowing Authority
4. Monetary Credits
5. Offsetting Collections and Receipts
6. Loan and Loan Guarantee Authority
Annual appropriations remain available for new obligations for how long? - Answer They normally remain available for new obligations for ONE FY
O&M is an example of what type of appropriation? - Answer Annual appropriation
RDT&E is an example of what type of appropriation? - Answer Multi-year appropriation
Budget authority does not expire in what type of appropriation? - Answer No-year appropriation
Article 1, Section 9, of the U.S. Constitution gives the power to appropriate funds for operating the Government to which branch of the Government? - Answer Legislative Branch (Congress)
