Fiscal law test questions - Study guides, Class notes & Summaries

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns are all benefits of ef...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient approach to taxation? A) Cash flows should be considered from a...

Fiscal Law Test Questions with Correct Answers Fiscal Law - ANSWER Body of law governing use of federal funds Fiscal Year - ANSWER 1 October ‐ 30 September Period of Availability - ANSWER Most appropriations available for obligation for limited time period Funds not obligated in timely manner generally expire Obligation - ANSWER Transaction legally binding the government to make payment E.g., place an order, award a contract, receive services Budget Authority - ANSWER Federal law p...

Test Bank for Issues in Economics Today 10e 10th Edition by Robert Guell. ISBN-13: 0623 Full Chapters test bank are included Chapter 1: Economics: The Study of Opportunity Cost  Chapter 2: Supply and Demand  Chapter 3: The Concept of Elasticity and Consumer and Producer Surplus Chapter 4: Firm Production, Cost, and Revenue  Chapter 5: Perfect Competition, Monopoly, and Economic versus Normal Profit  Chapter 6: Every Macroeconomic Word You Ever Heard: Gross Domes...

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Fiscal Law Test Questions and Answers U.S. Fiscal Law - ANSWER Body of law which governs the use and availability Federal funds by Executive Agencies Fiscal Law is derived from... - ANSWER 1. US Constitution (Article I) 2. US Code, Title 31 3. FAR and subsequent regulations 4. GAO and court rulings Fiscal Year - ANSWER Starts October 1 End September 30 Government Accountability Office (GAO) - ANSWER An investigative arm of Congress that issues opinions and reports to federal agencie...

Fiscal Law Test Questions with Correct Answers

Fiscal Law Test Questions and Answers Congress that issues opinions and reports to federal agencies concerning the obligation and expenditure of public funds payment. available for original obligation. funds No money can be paid out of the treasury unless it has been appropriated by an act of Congress (Appropriations Clause) (Power of the purse)A statute passed annually by Congress that authorizes the appropriation of funds for programs and activities of the general welfare 2. F...

Fiscal Law Test Questions with Correct Answers (2) limited time period Funds not obligated in timely manner generally expire payment E.g., place an order, award a contract, receive services specified amount doesn't provide obligation authority E.g., end strength; DoD FM Certification Program; government lodging program (i.e., Integrated Lodging Program) make payments out of the Treasury for specified purposes appropriations act ‐ provides budget authority to co...

Fiscal Law Test Questions and Answers U.S. Fiscal Law - ANSWER Body of law which governs the use and availability Federal funds by Executive Agencies Fiscal Law is derived from... - ANSWER 1. US Constitution (Article I) 2. US Code, Title 31 3. FAR and subsequent regulations 4. GAO and court rulings Fiscal Year - ANSWER Starts October 1 End September 30 Government Accountability Office (GAO) - ANSWER An investigative arm of Congress that issues o...

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 ...

Fiscal Law Test Questions with Correct Answers Fiscal Law - ANSWER Body of law governing use of federal funds Fiscal Year - ANSWER 1 October ‐ 30 September Period of Availability - ANSWER Most appropriations available for obligation for limited time period Funds not obligated in timely manner generally expire Obligation - ANSWER Transaction legally binding the government to make payment E.g., place an order, award a contract, receive services B...