FISCAL LAW

Fiscal Law Final Exam answered- spring updated 2024.Fiscal Law Final Exam answered- spring updated 2024.Fiscal Law Final Exam answered- spring updated 2024.

The established rule is that the expenditure of public funds is proper only when ________ by Congress, not that public funds may be expended unless prohibited by Congress. - Answer authorized In fiscal law, you can do only what the law authorized you to do. ______ of a law prohibiting you from doing something with your funding doesn't give you the authority to do it; it must be authorized by law in order for you to obligate funds - Answer Absence Are congressional committee reports (l...

FISCAL LAW FINAL EXAM ANSWERED SPRING 2023 LATEST A+ GRADED. QUESTION 1 1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False QUESTION 2 1. The proper amount of money to obligate at the award of a firm fixedprice contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. A conservative amount based on the government’s estimated future requirements....

Fiscal Law Test 1 - Module 2,3,4 and final test / Fiscal Law Test 1 - Module 2,3,4 and final test / Fiscal Law Test 1 - Module 2,3,4 and final test / Fiscal Law Test 1 - Module 2,3,4 and final test

Fiscal Law Exam CLG 001 _ Questions And Answers 2023 QUESTION 1 1. Which of the following is a correct statement of Fiscal Law Philosophy: If the law is silent as to whether a purchase can be made, it is probably safe to spend appropriated funds. Expenditure of appropriated funds is proper only when authorized by Congress. If the commander says buy it, don’t worry about Fiscal Law Regulations. Absent a specific prohibition, expending appropriated funds is permitted. QUEST...

Fiscal Law Competency 1 Exam Questions and Answers Federal appropriations law can be categorized into which three topical areas? - ANSWER Purpose, Time, and Amount (PTA) In the Department of Defense, final decisions of fiscal law questions are "officially" rendered by whom? - ANSWER DoD General Counsels, Courts What are the basic types of budget authority used in the Federal Government? - ANSWER Appropriations Contract Authority Borrowing Authority Monetary Credits Offsetting Col...

Fiscal Law LATEST 2023-2024 ACTUAL EXAM TEST BANK QUESTIONS AND CORRECT DETAILED ANSWERS|AGRADE What are the three main types of appropriation and their availability for obligation? - ANSWER- 3400 – O&M (1-year appropriation) 3600 - RDT&E (2-year appropriation) 3080 - Procurement (3-year appropriation) Within procurement there are different types of appropriation for aircraft, naval ships, etc. What is 3400 money used for? - ANSWER- Operations and Maintenance including Day to Day exp...

Fiscal Law study guide key words Fiscal Law - Body of law governing use of federal funds Fiscal Year - 1 October ‐ 30 September Period of Availability - Most appropriations available for obligation for limited time period Funds not obligated in timely manner generally expire Obligation - Transaction legally binding the government to make payment E.g., place an order, award a contract, receive services Budget Authority - Federal law provides to incur obligations up to specifi...

Fiscal Law Competency Area 1 Questions with 100% Correct Answers | Updated & Verified

FISCAL LAW FINAL EXAM, ANSWERED