Business Accounting and Bookkeeping

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Emmanuel Ward

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โˆ™ 2021-09-30 20:42:20
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Cards in this guide (21)
Expired appropriations are available for obligation for how many years

Expired appropriations are not available to obligate once they expire (if it's not obligated by the expiration date, they are no longer available). However, the unliquidated obligations (funds already obligated but not expensed) are available to use (or create expenditures) for up to five years from the date the funds expire. The obligated funds must be used for the intent they were they originally obligated.

See the link below.

The necessary expense rule three part test is intended to do what

justify the purpose of an expenditure

According to the department of defense financial management regulation dodfmr volume 5 chapter 33 certification is the act of attesting to the of a payment

legality, propriety, and correctness

The term proper when applied to Certifying Official duties means that

the funds are appropriated for payment

31 USC 3802 sets the pecuniary liability limit to a civil penalty of how much

of not more than $5,000 and twice the full amount of the erroneous payment

If there is an erroneous payment then

the Certifying Officer is presumed negligent

Which is true about commanders

They must have affirmative authority to use funds for a particular purpose

How long are annual appropriations available for new obligations


Which best describes Official Representation Funds ORF

They recognize the legitimate need to provide official entertainment, where it might otherwise be prohibited by law

Which type of appropriation can be used to fund a two year old O and M contract adjustment


Which level includes all the details of an accounting classification resulting in a unique fund citation

Program summary record (PSR)

When congress hasn't passed the new fiscal years appropriation act by the start of the new fiscal year what does saf fmb provide that allows air force activities to spend money pending the passing

Continuing Resolution Authority (CRA)

Which of the following is true about congressional spending power

It needs to be in pursuit of the general welfare

What is true about the second necessary expense rule and expenditure must not be prohibited by Law

If affirmative authority does not exist, don't do it

An Accountable Official is appointed through the chain of command


What is the established rule that is the expenditure of public funds is proper only when authorized by congress

affirmative authority

What are the major categories of accounting

Following are major categories of accounting:

1 - Cost accounting

2- Financial accounting

3 - management accounting

What has the author Leroy F Imdieke written

Leroy F. Imdieke has written:

'Financial Accounting 2e Sol'

'Financial Accounting 2e TB'

'Financial Accounting 2e Sol Tr'

'Financial Accounting 2e Lotus Solutions (D5)'

What is an accountable official's responsibilities

[object Object]

In an accounting classification what does the EEIC represent
  • Element of Expense/Investment Code
  • Element of Expense Identification Code
what are three examples of abuse of the govermentwide commercial Purchase card

Failing to purchase from mandatory sources, Exceeding the applicable micro-purchase threshold, Splitting requirements to avoid card thresholds.

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