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Basic Fiscal Law 2023 /Verified Questions With Complete Solutions (A+)
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Basic Fiscal Law 2023 /Verified Questions With Complete Solutions (A+)
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Basic Fiscal Law 2023 /Verified Questions WithComplete Solutions (A+)
Quiz :"The established rule is that the expenditure of public funds is proper
only when authorized by Congress," describes _____ - √Answer :Affirmative
Authority
Quiz :______ has the ability to appropriate funds to be spent by the federal
government. - √Answer :Congress
Quiz :The three main elements that must be met before funds are obligated
are - √Answer :Purpose
Time
Amount
Quiz :To apply reasonably discretion and flexibility, the Government
Accountability Office (GAO) developed the concept known as the _______,
which consists of a three part test. - √Answer :necessary expense rule
Quiz :The bona fide needs rule allows you to maintain inventories at levels to
avoid disruption of operations. - √Answer :true
Quiz :A(n) ______ appropriation is to remain available until expended without
fiscal year limitation. - √Answer :No-Year
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