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Business Accounting and Bookkeeping

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Emanuel Stehr

Lvl 9
โˆ™ 2021-09-30 20:42:00
4.0
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Cards in this guide (20)
What is the body of law that governs the availability and use of federal funds

Fiscal Law

Who has the final word on how much money can be spent by a given agency or program under the separation of powers doctrine

Congress

How do you spell commitments

That is the correct spelling of "commitments" (obligations).

Which stage of disbursement accounting is also known as the accounts payable stage

accrued expenditures unpaid "U"

Which phase begins on 1 October and encompasses the process of distribution of funds

execution

What is a snap shot of a commanders actual budget execution during the current fiscal year

status of funds

What is an internal control practice used to access whether commitments and obligations are bona fide needs of the appropriations charged

TAR

Who is responsible for providing fiscal year end guidance procedures to bases reviewing status of accounting systems assisting with posting obligations in the accounting system and executing closeout

DFAS

Is a commitment a legally binding agreement between the government and a contractor

False

What quarter do you begin developing the next fiscal year budget

Second

Who is responsible for providing fiscal year-end guidance procedures to bases

DFAS

What decision making skill contain communication skills leadership negotiation skills and networking with colleagues

Qualitative

Were is Air Force's Head Quarters

The Air Force's Head Quarters is at the Pentagon, in Arlington, Virginia.

When was Level Plane Records created

Level Plane Records was created in 1997.

Who are responsible for conducting reviews of dormant commitments and unliquidated obligations irrespective of wether the funds holder or accounting office actually records the commitments or obligati

not ALO

What is the first quarter of the government fiscal year

October to December

What funds are available for new obligations for a period of five years

What funds are available for new obligations for a period of five years

Congress has the ability to appropriate funds to be spent by the federal government.

Congress has the ability to appropriate funds to be spent by the federal government.

The phase begins on 1 October and encompasses the process of distribution of funds

execution

What is used to collect cash for collections into the accounting systems

dd1131

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