Fiscal law exam Study guides, Class notes & Summaries

This study source was downloaded by from CourseH on :15:29 GMT -06:00 Fiscal Law Final Exam QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE 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 fixed- price contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. ...

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. 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 QUESTION 2 1. It is July 2010. The contracting officer at Fort Mason is about to award a contract for a comput...

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 ...

CDFM EXAM (4 DIFFERENT SUB MODULE 3.1 - 3.4) QUESTIONS AND CORRECT ANSWERS EACH SUB MODULE CONTAINS 100 QUESTIONS AND ANSWERS LATEST 2023-2024 What is the basic axiom of Fiscal Law? - ANSWER- The established rule is that the expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use of appropriated funds be...

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

CLG 001_ Fiscal Law Exam version 2, Questions & 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. QUESTION 2 20 points ...

CDFM 3.1 Fiscal Law Exam Questions with Correct Answers True or false? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act. - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the _________. - ANSWER 31 USC 1341, 1342, and 1517 (Anti-Deficiency Act) The appropriation time line for Military Construction is _______ years. - ANSWER 5 The appropriation time line for Procurem...

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. 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 QUESTION 2 1. It is July 2010. The contracting officer at Fort Mason is about to award a contract for a comput...

CLG 001_ Fiscal Law Exam version 2_ updated.CLG 001_ Fiscal Law Exam version 2_ updated.CLG 001_ Fiscal Law Exam version 2_ updated.