FIN 515
Grand Canyon University
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FIN 515 FISCAL LAW EXAM question and answers
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. 
20 points 
QUE ST ION 2 
1. It is July 2010. The contracting officer at Fort Mason is...