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Fiscal Law Final Exam QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE
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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. ...
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Fiscal Law Test Questions with Correct Answers
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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...
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FISCAL LAW FINAL EXAM QUESTIONS AND ANSWERS
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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...
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VALUE PACK:: FISCAL LAW EXAMS QUESTIONS AND ANSWERS 2023
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VALUE PACK:: FISCAL LAW EXAMS QUESTIONS AND ANSWERS 2023
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Fiscal Law- Exam Questions and Answers
- Exam (elaborations) • 5 pages • 2022
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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 Exam questions with correct answers Latest solution 2024
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Fiscal Law Final Exam questions with correct answers /Fiscal Law Final Exam questions with correct answers /Fiscal Law Final Exam questions with correct answers /Fiscal Law Final Exam questions with correct answers
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Fiscal Law Final Exam answered- spring updated 2024.
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Fiscal Law Final Exam answered- spring updated 2024.Fiscal Law Final Exam answered- spring updated 2024.Fiscal Law Final Exam answered- spring updated 2024.Fiscal Law Final Exam answered- spring updated 2024.
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Fiscal Law Final Exam questions with correct answers graded A+
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Fiscal Law Final Exam questions with correct answers graded A+/Fiscal Law Final Exam questions with correct answers graded A+/Fiscal Law Final Exam questions with correct answers graded A+
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Fiscal Law Questions.
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Fiscal Law Questions.Fiscal Law Questions.Fiscal Law Questions.Fiscal Law Questions.
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Fiscal Law Test Questions with 100% Correct Answers | Updated & Verified
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Fiscal Law Test Questions with 100% Correct Answers | Updated & Verified
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