The Budget Authority Is Generally a "Ceiling" Provided by Law

The budget authority is generally a "ceiling" provided by law for obligations and expenditures. Some common forms of budget authority include all of the following EXCEPT:

A) Appropriation - this is the most common form of budget authority, which permits agencies to incur obligations and expend funds.
B) Legal restrictions on an organization
C) Public debt authority - funds derived from the sale public debt securities of the federal government.
D) Contract authority - statutory authority under which obligations may be entered into prior to receiving an appropriation.

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