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What does Pecuniary liability mean?
It is the personal financial responsibility of accounting officials who approve expenses, making them responsible for verifying the accuracy of their account payments.If you are an official, it means that you have financial responsibility for erroneous payments made as a result of your signature.As an accountable official, you are presumed to be negligent when a fiscal irregularity occurs
Are accountable officials are pecuniary liable for illegal improper or incorrect payments as a result of negligent performance of accountable official duties?
Yes
Cash advances should only be taken and used for expenses that are related to official government travel?
TRUE
What is the balance of payments account that records the amount of foreign currency the government buys or sells?
official revenue accounts
What is official reserve account?
The official reserve account, a subdivision of the capital account, is the foreign currency and securities held by the government, usually by its central bank, and is used to balance the payments from year to year.
Which of the following is true about Authorizing Official (AO) and Reviewing Official (RO) pecuniary liability?
AOs always bear pecuniary liability for the entire contents of the travel document
What statement is true about a departmental accountable official?
They have automatic pecuniary liability for erroneous payments.
Is NOT a means of clearing a Departmental Accountable Official's pecuniary liability?
NOT is not a means of clearing a Departmental Accountable Official's pecuniary liability. The accountable official remains responsible for any financial discrepancies or liabilities even if the NOT is processed. NOT is a Notice of Transfer indicating a change in funds, but it does not absolve the official from financial responsibility.
NOT a means of clearing a Certifying Officer's pecuniary liability?
Transfering to another department is not a means of clearing departmental accountable officers for official pecuniary liability.
What is true about a Departmental Accountable Official?
They have automatic pecuniary liability for erroneous payments.
Ich of the following is NOT a means of clearing a Departmental Accountable Official's pecuniary liability?
The options for clearing a Departmental Accountable Official's pecuniary liability typically include restitution, administrative remedies, and waivers. However, a means such as simply ignoring the liability or failing to address it would NOT be considered a legitimate method for clearing such liability. It's essential for officials to follow proper procedures to resolve any financial accountability.
Is true about authorizing official and reviewing official pecuniary liability.?
The authorizing official is responsible for approving actions that may lead to financial liability, ensuring compliance with policies and regulations. The reviewing official, on the other hand, assesses and verifies the appropriateness of the authorizing official's decisions, focusing on risk management and accountability. Both roles are crucial in maintaining financial integrity and oversight within an organization. Together, they help mitigate pecuniary liability by ensuring that decisions are made with due diligence and proper justification.
What does federal law say about departmental accountable official?
DoD may use them; if they are used, they only have limited pecuniary liability.
Is not a means of clearing a departmental accountable officials pecuniary liability?
No, a means of clearing a departmental accountable official's pecuniary liability typically involves formal processes such as audits, financial reconciliations, or restitution. Simply stating or claiming that there is no liability does not suffice; proper documentation and adherence to legal and regulatory frameworks are necessary to resolve any financial accountability.
Which of the following statements about the Authorizing Official Checklist tri-fold is not true?
Using it guarantees you won't incur pecuniary liability when reviewing travel documents.
Liability if official repays government?
CO & DAO
What does Pecuniary liability mean?
It is the personal financial responsibility of accounting officials who approve expenses, making them responsible for verifying the accuracy of their account payments.If you are an official, it means that you have financial responsibility for erroneous payments made as a result of your signature.As an accountable official, you are presumed to be negligent when a fiscal irregularity occurs
