Module 3: Accounting and Finance: Competency 1: Fiscal Law Flashcards
1
Q
- Federal appropriation law can be categorized into three topical areas?
A
Purpose, Time, and Amount (page 12)
2
Q
- In the DoD, final decisions of fiscal law questions are “officially” rendered by whom?
A
DoD General Counsel
3
Q
- What are the basic types of budget authority used in the Federal Government?
A
Appropriations;
Contract Authority;
Borrowing Authority,
Monetary Credits;
Offsetting Collections and Receipts;
Loan and Loan Guarantee Authority (page 29)
4
Q
- Annual appropriations remain available for new obligations for how long?
A
They normally remain available for new obligations for ONE fiscal year (page 23)
5
Q
- O&M is an example of what type of appropriation?
A
Annual Appropriation
6
Q
- RDT&E is an example of what type of appropriation?
A
Multi-year appropriation (page 23)
7
Q
- Budget authority does not expire in what type of appropriation?
A
No year (X year) appropriations (page 24)
8
Q
- Article 1, Section 9, of the U.S. Constitution gives the power to appropriate funds for operating the Government to which branch of the Government?
A
Legislative Branch, Congress (page 8)
9
Q
- Which law established the House and Senate Budget Committees and the Congressional Budget Office (CBO)?
A
Congressional Budget Act of 1974 (page 10)
10
Q
- What are the three tests which must be met for use of the Necessary Expense doctrine?
A
Must bear a logical relationship; Not prohibited by law; Not funded elsewhere (page 16)
11
Q
- Who are determined to be accountable individuals in the Department of Defense?
A
Certifying and Disbursing Officers and Departmental Accountable officials (page 47)
12
Q
- Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense?
A
DFAS (page 50)
13
Q
- What type of budgetary resources remains available for new obligations for more than one fiscal year?
A
Multi-year authority (page 23)
14
Q
- What type of budgetary resources remains available for new obligations until the purpose for which they were provided is carried out?
A
No year authority (page 24)
15
Q
- What type of Congressional resolution can be thought of as temporary appropriations act?
A
Continuing resolution (page 41)
