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FSD 101 Basic Fiscal Law Exam Questions and Answers.
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FSD 101 Basic Fiscal Law Exam Questions andAnswers
________________ funds are available for new obligations for a period of 5 years. - Answer -
Anti deficiency Act Principles state that you can receive services without paying for them as benefit to
the government. - Answer - False
________________ has the ability to appropriate funds to be spent by the federal government. - Answer
- Congress
Under the "Separation of Powers" doctrine established by the Constitution, the _____________ carries
out the laws with the money Congress provides. - Answer -
The ____________ Act prohibits against over obligated or overspending an appropriation. - Answer -
Antideficiency
Fiscal Law is derived from: - Answer - All of the above
The three main elements that must be met before funds are obligated are: - Answer - Purpose, Time,
and Amount
The Anti deficiency Act includes _________________ penalties for violation. - Answer - Both A and B
(Civil and Criminal)
Under the "Separation of Powers" doctrine, ________________ has the final word on how much money
can be spent by a given agency or program. - Answer - Congress
"The established rule is that the expenditure of public funds is proper only when authorized by
Congress" describes ______________ - Answer - Affirmative Authority
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