Fiscal law

Fiscal Law Final Exam - Questions and Answers 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. QUESTION 3 1. How long does t...

Fiscal Law: Competency Area 1 Federal appropriations law can be categorized into which three topical areas? - ANS Purpose, Time, and Amount In the Department of Defense, final decisions of Fiscal Law questions are "officially" rendered by whom? - ANS DoD General Counsel How many basic types of budget authority are used in the Federal Government? - ANS Appropriations Contract Authority Borrowing Authority Monetary Credits Offsetting Collections and Receipts Annual appropriations...

CDFM All Modules FISCAL LAW T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? - ANS FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? - ANS 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? - ANS Article 1 Section 8 clause 1, Article 1 Section 9 clause 7 T/F? Article 2 section 8 empower...

CDFM 3.1 Fiscal Law

Fiscal Law Affirmative Authority governed by what: - ANS • The U.S. Constitution • Legislative Appropriations and Authorization Acts • Judicial Court Rulings and Comptroller General decisions DoD AA - ANS Depart of Defense Appropriations Act NDAA - ANS National Defense Authorization Act Necessary Expense Defined - ANS • Must be reasonably necessary • Doesn't have to be only or best way • Determinations are fact, agency, and purpose specific; AFI65-601. Purpose: - AN...

1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False 4 points QUE ST ION 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. 4 points QUE ST ION 3 1. How long does the Department of Defen...

Fiscal Law Final Exam 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. QUESTION 3 1. How long does the Departme...