FISCAL LAW FINAL PAPER 2026 FULL Q&A
STUDY GUIDE GRADED A+
◉In fiscal law, you can do only what the law authorized you to do.
______ of a law prohibiting you from doing something with your
funding doesn't give you the authority to do it; it must be authorized
by law in order for you to obligate funds. Answer: Absence
◉Are congressional committee reports (legislative history) lawful?.
Answer: No, Congressional committee reports known as legislative
history are not law and generally not binding.
◉Fiscal Law is based on the premise that appropriations are only
available for obligation and expenditure when specifically _______ by
the Congress, not that we can use appropriations unless specially
prohibited by the Congress.. Answer: approved
◉What is fiscal law based upon?. Answer: Fiscal Law is based upon
the constitution, authorization acts, appropriation acts, general
statues, Comptroller General Decision (Administration Law) and
court decisions (case law).
◉What does the appropriation acts identify?. Answer: the purpose,
time and amount of the appropriations
,◉Article 1, Section 7 gives Congress the power to do?. Answer:
Article 1, Section 7 empowers the Congress to pass bills for the
raising of revenue, and delineates how bills will pass from the
Congress to the President for signature or veto.
◉Article 1, Section 8, Clause 1, empowers Congress to do? collect
taxes.. Answer: Article 1, Section 8, Clause 1, empowers Congress to
collect taxes.
◉Article 1, Section 9, Clause 7, requires appropriations to be law
before before money is spent (True or False).. Answer: True, Article
1, Section 9, Clause 7, requires appropriations in law before money
may be spent from the Treasury. The term appropriation applies
broadly to any law that permits a Government employee to spend
money, not just to the regular appropriation bills.
◉Law (authorization) is required before money can be ?. Answer:
spent
◉Where can you go to get the the most authoritative source of
information on the proper use of appropriated funds.. Answer: The
GAO "Redbook" is titled Principles of Federal Appropriation Law
(www.gao.gov)
,◉What does the GAO "Redbook" contains? detailed guidance and
numerous cases illustrating proper and improper use of funds..
Answer: What does the GAO "Redbook" contains? detailed guidance
and numerous cases illustrating proper and improper use of funds.
◉The GAO "Redbook" contains two additional principles:
Specific over general appropriations
Do not do indirectly what you cannot do directly. Answer: The GAO
Redbook
◉A specific appropriation________ a general appropriation.. Answer:
trumps
◉Give example of "do not do indirectly what you cannot do
directly"....You can not hire someone to do what you can do.. Answer:
For example, you can hire a contractor to fix a car if you can fix a car.
◉Attorney advise, commander do what?. Answer: decide
◉What was the provision under Budget and Accounting Act of 1921.
Answer: The President has to submit an annual budget Congress
Created a budget office for the President (Bureau of the Budget then,
changed to OMB in 1970).
, Established General Accounting Office (now Government
Accountability Office).
◉What was the prescribe under Impoundment Control Act of 1974?.
Answer: this law prescribes rules and procedures under which the
President may withhold appropriated amounts from obligation (i.e.,
deferrals and rescissions).
◉Balanced Budget and Emergency Deficit Control Act of 1985 was
implemented to do ?. Answer: designed to constrain spending and
receipts legislation.
◉Congressional Budget Act of 1974 did what?. Answer: Establishes
the House and Senate budget committees and the Congressional
Budget Office (CBO).
Governs the congressional budget process.
Defines some of the key budget terms, that are used in the budget
process.
◉What OMB Circular provides instructions on budget execution,
Provides instructions on monitoring Federal outlays, obtaining
exemptions from GAO access to records , reporting requirements for
unvouchered and expenditures, closing accounts, and monitoring
Federal employment?. Answer: OMB Circular A-11
STUDY GUIDE GRADED A+
◉In fiscal law, you can do only what the law authorized you to do.
______ of a law prohibiting you from doing something with your
funding doesn't give you the authority to do it; it must be authorized
by law in order for you to obligate funds. Answer: Absence
◉Are congressional committee reports (legislative history) lawful?.
Answer: No, Congressional committee reports known as legislative
history are not law and generally not binding.
◉Fiscal Law is based on the premise that appropriations are only
available for obligation and expenditure when specifically _______ by
the Congress, not that we can use appropriations unless specially
prohibited by the Congress.. Answer: approved
◉What is fiscal law based upon?. Answer: Fiscal Law is based upon
the constitution, authorization acts, appropriation acts, general
statues, Comptroller General Decision (Administration Law) and
court decisions (case law).
◉What does the appropriation acts identify?. Answer: the purpose,
time and amount of the appropriations
,◉Article 1, Section 7 gives Congress the power to do?. Answer:
Article 1, Section 7 empowers the Congress to pass bills for the
raising of revenue, and delineates how bills will pass from the
Congress to the President for signature or veto.
◉Article 1, Section 8, Clause 1, empowers Congress to do? collect
taxes.. Answer: Article 1, Section 8, Clause 1, empowers Congress to
collect taxes.
◉Article 1, Section 9, Clause 7, requires appropriations to be law
before before money is spent (True or False).. Answer: True, Article
1, Section 9, Clause 7, requires appropriations in law before money
may be spent from the Treasury. The term appropriation applies
broadly to any law that permits a Government employee to spend
money, not just to the regular appropriation bills.
◉Law (authorization) is required before money can be ?. Answer:
spent
◉Where can you go to get the the most authoritative source of
information on the proper use of appropriated funds.. Answer: The
GAO "Redbook" is titled Principles of Federal Appropriation Law
(www.gao.gov)
,◉What does the GAO "Redbook" contains? detailed guidance and
numerous cases illustrating proper and improper use of funds..
Answer: What does the GAO "Redbook" contains? detailed guidance
and numerous cases illustrating proper and improper use of funds.
◉The GAO "Redbook" contains two additional principles:
Specific over general appropriations
Do not do indirectly what you cannot do directly. Answer: The GAO
Redbook
◉A specific appropriation________ a general appropriation.. Answer:
trumps
◉Give example of "do not do indirectly what you cannot do
directly"....You can not hire someone to do what you can do.. Answer:
For example, you can hire a contractor to fix a car if you can fix a car.
◉Attorney advise, commander do what?. Answer: decide
◉What was the provision under Budget and Accounting Act of 1921.
Answer: The President has to submit an annual budget Congress
Created a budget office for the President (Bureau of the Budget then,
changed to OMB in 1970).
, Established General Accounting Office (now Government
Accountability Office).
◉What was the prescribe under Impoundment Control Act of 1974?.
Answer: this law prescribes rules and procedures under which the
President may withhold appropriated amounts from obligation (i.e.,
deferrals and rescissions).
◉Balanced Budget and Emergency Deficit Control Act of 1985 was
implemented to do ?. Answer: designed to constrain spending and
receipts legislation.
◉Congressional Budget Act of 1974 did what?. Answer: Establishes
the House and Senate budget committees and the Congressional
Budget Office (CBO).
Governs the congressional budget process.
Defines some of the key budget terms, that are used in the budget
process.
◉What OMB Circular provides instructions on budget execution,
Provides instructions on monitoring Federal outlays, obtaining
exemptions from GAO access to records , reporting requirements for
unvouchered and expenditures, closing accounts, and monitoring
Federal employment?. Answer: OMB Circular A-11
