FISCAL LAW

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. ...

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...

QUE ST ION 1 1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False 4 points QUE ST ION 2 1. The proper amount of money to obligate at the award of a firm fixedprice contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. A conservative amount based on the government’s estimated future requirements. 4 points QUE ST ION 3 1. How long does the Depar...

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 provides to incur obligations up to specifie...

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Fiscal Law Final Test / Fiscal Law Final Test / Fiscal Law Final Test A unit is conducting a month-long Combined Airborne Parachute Exercise with the country of Romania. The Romanian troops are all already airborne qualified, have successfully completed multiple jumps, but have never jumped from a U.S. C-130 before. The Brigade S3 (operations officer) wants to conduct a two-hour block of instruction for the Romanians on C-130 exit safety procedures. Can the unit provide the training?

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