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Business Accounting and Bookkeeping

Ayden Metz ∙

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∙ 2y ago

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Term1/16

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

Definition1/16

expired

Term1/16

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

Definition1/16

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

Term1/16

If there is an erroneous payment then

Definition1/16

the Certifying Officer is presumed negligent

Term1/16

Which of the following is a reason the roles of a Certifying Officer and an Accountable Official are important

Definition1/16

They ensure legally accurate and timely recording of supporting documentation and payment vouchers

Term1/16

Which is true about commanders

Definition1/16

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

Term1/16

Which best describes Official Representation Funds ORF

Definition1/16

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

Term1/16

What is the purpose of Operation and Maintenance 3400 appropriation

Definition1/16

Day-to-day expenses such as training exercises, deployments and civilian pay

Term1/16

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

Definition1/16

Program summary record (PSR)

Term1/16

From an accounting and funds control perspective which are the best examples of what you would do in the implementation and evaluation steps of the decision making process

Definition1/16

Both ensure correct fund cite is on commitment/obligation documents and track expenditures and compare them to projections

Term1/16

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

Definition1/16

Continuing Resolution Authority (CRA)

Term1/16

Which of the following is true about congressional spending power

Definition1/16

It needs to be in pursuit of the general welfare

Term1/16

An Accountable Official is appointed through the chain of command

Definition1/16

TRUE

Term1/16

What are the major categories of accounting

Definition1/16

Following are major categories of accounting:

1 - Cost accounting

2- Financial accounting

3 - management accounting

Term1/16

What is an accountable official's responsibilities

Definition1/16

[object Object]

Term1/16

In an accounting classification what does the EEIC represent

Definition1/16

Element of Expense/Investment Code
Element of Expense Identification Code

Term1/16

The financial management board (FMB) and the financial working group (FWG) implement a quarterly phased plan that allows the fma office to distribute funds to

Definition1/16

Resource advisors, who in turn, distribute the funds to responsibility center managers

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Cards in this guide (16)

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

expired

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 of the following is a reason the roles of a Certifying Officer and an Accountable Official are important

They ensure legally accurate and timely recording of supporting documentation and payment vouchers

Which is true about commanders

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

Which best describes Official Representation Funds ORF

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

What is the purpose of Operation and Maintenance 3400 appropriation

Day-to-day expenses such as training exercises, deployments and civilian pay

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

Program summary record (PSR)

From an accounting and funds control perspective which are the best examples of what you would do in the implementation and evaluation steps of the decision making process

Both ensure correct fund cite is on commitment/obligation documents and track expenditures and compare them to projections

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

An Accountable Official is appointed through the chain of command

TRUE

What are the major categories of accounting

Following are major categories of accounting:

1 - Cost accounting

2- Financial accounting

3 - management accounting

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

The financial management board (FMB) and the financial working group (FWG) implement a quarterly phased plan that allows the fma office to distribute funds to

Resource advisors, who in turn, distribute the funds to responsibility center managers

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