• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/19

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

19 Cards in this Set

  • Front
  • Back
________ contains detailed guidance and numerous cases illustrating proper and improper uses of funds.
Principles of Federal Appropriation Law, aka the GAO Redbook
Fiscal law spans the whole field of financial management and requires a familiarity with what areas?
Constitutional authority for the obligation and expending of funds, specificity of purpose, time and amount of appropriations, the Anti-Deficiency Act and its penalties, use of funds under a continuing resolution, and responsibilities of an Accountable Officer.
The ________acts indentify the purpose, time, and amount of the appropriations.
Appropriation
True or False
Fiscal Law is based on the premise that authorizations are only available for obligation and expenditure when specifically approved by Congress.
False
Fiscal Law is based on the premise that APPROPRIATIONS are only available for obligation and expenditure when specifically approved by Congress.
Based on the Budget and Accounting Act of 1921, who submits an annual budget to Congress?
The President
What act established the GAO (Government Accountability Office)
Budget and Accounting Act of 1921
This law governs the congressional budget process, defines some key budget terms, such as budget authority, that are used in all phases of the budget process and establishes the House and Senate budget committees and the Congressional Budget Office (CBO)
Congressional Budget Act of 1974
What law prescribes rules and procedures under which the President may withhold appropriated amounts from obligation?
a. Balanced Budget and Emergency Deficit Control Act of 1985
b. Budget and Accounting Act of 1921
c. Appropriations Act
d. Impoundment Control Act of 1974
d. Impoundment Control Act of 1974
What are the three dimensions that limit the availability of budgetary resources for obligation and expenditure?
Purpose, time and amount.
Budgetary resources that are available for new obligations in excess of one fiscal year are referred to as_________.
Multiyear Authority
Budgetary resources that are available for new obligations for an indefinite period (until the purposes for which they were provided are carried out) are referred to as _______.
No-Year Authority or X-year authority
Budgetary resources that are available for incurring new obligations for 1 fiscal year or less are classified as _______.
Annual Authority
If the law itself specifies an amount of budget authority available, the amount is classified as what?
This type of authority includes authority stated as "not to exceed" a specified amount.
Definite Authority
If the law does not specify an amount of budget authority available (if the amount is determined by specified variable factors), the amount is classified as what?
Indefinite authority
What law and regulation in Federal Financial Management provides instructions on budget execution?
a. Balance Budget and Emergency Deficit Control Act of 1985.
b. Sections 13 and 15, 31 U.S.C
c. OMB Circular A-11
d. None of the above
c. OMB Circular A-11
______ is the body of law which governs the availability and use of public funds.
Fiscal Law
What law and regulation in Federal Financial Management prescribe rules and procedures for budget execution?
a. Balance Budget and Emergency Deficit Control Act of 1985.
b. Sections 13 and 15, 31 U.S.C
c. OMB Circular A-11
d. None of the above
b. Sections 13 and 15, 31 U.S Code
True or False
The President's budget office is the Office of Management and Budget.
True (Originally the Bureau of the Budget before changing to OMB in 1970)
This law prescribes rules and procedures desgined to contrain spending and receipts legislation.
a. Balance Budget and Emergency Deficit Control Act of 1985.
b. Sections 13 and 15, 31 U.S.C
c. OMB Circular A-11
d. None of the above
a. Balance Budget and Emergency Deficit Control Act of 1985.