Basic Fiscal Law Questions and Answers 100% Pass

Basic Fiscal Law Questions and Answers 100% Pass "The established rule is that the expenditure of public funds is proper only when authorized by Congress," describes _____ Affirmative Authority ______ has the ability to appropriate funds to be spent by the federal government. Congress The three main elements that must be met before funds are obligated are 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. necessary expense rule The bona fide needs rule allows you to maintain inventories at levels to avoid disruption of operations. true A(n) ______ appropriation is to remain available until expended without fiscal year limitation. 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. Congress The _________ Act prohibits against over obligating or overspending an appropriation. Antideficiency ______ is the body of law that governs the availability and use of federal funds. Fiscal Law Antideficiency Act Principles state that you can receive services without paying for them as a benefit to the government. False