Darius R Hinton
Quiz by , created more than 1 year ago

CDMA Government Quiz on CDFM Module 3 Quiz, created by Darius R Hinton on 11/04/2017.

1465
0
0
Darius R Hinton
Created by Darius R Hinton about 7 years ago
Close

CDFM Module 3 Quiz

Question 1 of 173

1

A commitment is a/an _______ reservation of funds.

Select one of the following:

  • Administrative

  • Legal

  • Obligation

  • Contractual

Explanation

Question 2 of 173

1

The ________ provides guidance on interagency acquisitions.

Select one of the following:

  • National Defense Authorization Act

  • White House

  • Joint Travel Regulation

  • Federal Acquisition Regulation

Explanation

Question 3 of 173

1

The ______ branch of the Federal Government is the only branch with the ability to appropriate funds.

Select one of the following:

  • Legislative

  • Executive

  • Judicial

Explanation

Question 4 of 173

1

Personnel who are responsible for, or have custody of, government funds are:

Select one of the following:

  • Legislative Officers

  • Not Listed

  • Ranking members

  • Accountable Officials

Explanation

Question 5 of 173

1

"Agencies must obligate appropriations within their period of availability or the authority to obligate expires" refers to the ________ restriction on the authority to obligate appropriated funds.

Select one of the following:

  • Time

  • Purpose

  • Amount

  • Legal

Explanation

Question 6 of 173

1

Certifying Officers are responsible for all of the following EXCEPT:

Select one of the following:

  • Illegal or improper payments made based on an improper certificate

  • Disbursing funds in accordance with certified vouchers

  • The legality of the proposed payment

  • The correctness of the documentation

Explanation

Question 7 of 173

1

The two kinds of Interagency acquisitions within the Federal Government are:

Select one of the following:

  • Directed; Assisted

  • Straight; Assisted

  • Financial; Executive

  • Short Term; Long Term

Explanation

Question 8 of 173

1

Only ________ has the authority to appropriate funds.

Select one of the following:

  • Congress, Legislative Branch

  • Supreme court, Judicial Branch

  • The DoD, Executive Branch

  • The Executive Branch

Explanation

Question 9 of 173

1

A service contract for on complete effort is a _________ services contract, such as a report or the design of a building.

Select one of the following:

  • Liability

  • Severable

  • Contingent

  • Non-severable

Explanation

Question 10 of 173

1

Accountable officials are all personnel who are responsible for, or have custody of, government funds. Which of the following is NOT an accountable official?

Select one of the following:

  • Disbursing Officer

  • Commercial vendor

  • Approving Official

  • Certifying Officer

Explanation

Question 11 of 173

1

The purpose of an appropriation act is to:

Select one of the following:

  • Provide the judicial branch with the legal authority to dispense Federal funds for the government

  • Provide legal authority for Federal agencies to incur obligations and to make payments out of the Treasury for specified purposes

  • Allow unlimited access of funds to agencies that need it

  • Prevent Federal agencies from spending funds

Explanation

Question 12 of 173

1

Any loss or deficiency of funds in the DoD is investigated. In order to find an accountable official personally liable, one must show:

Select one of the following:

  • Nothing, the accountable official cannot be held liable

  • Simple negligence on the part of the contracting office

  • The loss was negligent or lacking in reasonable care

  • Extreme negligence on the part of the accountable official

Explanation

Question 13 of 173

1

Analysis of appropriations uses ____ guidance, including the National Defense Authorization Act; DoD Appropriations Acts; The Federal Acquisition Regulation (FAR); and the DoD FMR.

Select one of the following:

  • both verbal and written

  • authoritative

  • state and local

  • general

Explanation

Question 14 of 173

1

Every year Congress passes acts authorizing the DoD operations and appropriates funds to pay for those operations. Which of the following acts are responsible for DoD funding?

Select one of the following:

  • Family Housing Act

  • The Grassley Act

  • Military Financial Funding Act

  • National Defense Authorization Act

Explanation

Question 15 of 173

1

Fiscal law refers to the body of law governing the availability and use of Federal funds. Which of the following is NOT a source that forms the basis of Fiscal Law?

Select one of the following:

  • Judicial court Rulings and Comptroller General decisions

  • Legislative Appropriations and authorizations acts

  • The Constitution

  • Federal Acquisition Regulation

Explanation

Question 16 of 173

1

Federal appropriations law can be categorized into which three topical areas?

Select one or more of the following:

  • Purpose

  • Time

  • Amount

  • Necessity

Explanation

Question 17 of 173

1

In the DoD, final decisions of fiscal law questions are 'officially' rendered by whom?

Select one or more of the following:

  • DoD General Counsel

  • Courts

  • USD(C)

  • US Supreme Court

Explanation

Question 18 of 173

1

What are the basic types of budget authority used in the Federal Government?

Select one or more of the following:

  • Appropriations

  • Contract Authority

  • Borrowing Authority

  • Monetary Credits

  • Offsetting Collections and Receipts

  • Loan and Loan Guarantee Authority

  • Advance Obligation

Explanation

Question 19 of 173

1

Annual appropriations remain available for new obligations for how long?

Select one of the following:

  • One fiscal year

  • One calendar year

  • Five fiscal years

  • Three calendar years

Explanation

Question 20 of 173

1

Operations and Maintenance (O&M) is an example of what type of appropriation?

Select one of the following:

  • Annual

  • Multiyear

  • No-year

  • Advance

Explanation

Question 21 of 173

1

RDT&E is an example of what type of appropriation?

Select one of the following:

  • Annual

  • Multiyear

  • No-Year

Explanation

Question 22 of 173

1

Budget authority does not expire in what type of appropriation?

Select one of the following:

  • No-year

  • Multiyear

  • Annual

Explanation

Question 23 of 173

1

Fill the blank space to complete the text.

Article 1, Section 9, the US Constitution gives the power to appropriate funds for operating the Government to which Branch of the Government?

Explanation

Question 24 of 173

1

Which law established the House and Senate Budget Committees and the Congressional Budget Office (CBO)?

Select one of the following:

  • Congressional Budget Act of 1974

  • CFO Act of 1990

  • National Defense Authorization Act

  • Budget Control Act of 1987

Explanation

Question 25 of 173

1

What are the tests which must be met for use of the Necessary Expense doctrine?

Select one or more of the following:

  • Logical Relationship

  • Not Prohibited by Law

  • Not Funded Elsewhere

  • Within the same Fiscal Year

Explanation

Question 26 of 173

1

Who are determined to be accountable officers in the DoD?

Select one or more of the following:

  • Disbursing Officers

  • Departmental Accountable Officials

  • Certifying Officers

  • None Listed

Explanation

Question 27 of 173

1

Who grants relief of liability to a certifying officer for erroneous or illegal payments in the DoD?

Select one of the following:

  • DFAS

  • DoD General Counsel

  • OUSD (Comptroller)

  • GAO

Explanation

Question 28 of 173

1

What type of budgetary resources remains available for new obligations for more than one fiscal year?

Select one of the following:

  • No-Year

  • Multiyear

  • Annual

Explanation

Question 29 of 173

1

What type of budgetary resources remains available for new obligations until the purpose for which they were provided is carried out?

Select one of the following:

  • No-year

  • Multiyear

  • Annual

Explanation

Question 30 of 173

1

Fill the blank space to complete the text.

What type of Congressional resolution can be thought of as a temporary appropriations act?

Explanation

Question 31 of 173

1

Fill the blank space to complete the text.

If a Contracting Officer signs a contract in advance of an appropriation, what type of violation has occurred?

Explanation

Question 32 of 173

1

What agency apportions funds for a working capital fund?

Select one of the following:

  • DFAS

  • OMB

  • DCAA

  • AAFES

Explanation

Question 33 of 173

1

Select from the dropdown list to complete the text.

What law requires the President to submit an annual budget? ( Budget and Accounting Act of 1921, Budget and Impoundment Control Act 1974, Balanced Budget & Emer. Defecit 1985 )

Explanation

Question 34 of 173

1

Match the Laws and Description with each of the three dimensions that define the availability of budgetary resources:

: : "Appropriations shall be applied only to the objects for which the appropriations were made except as otherwise provided by law."

: : “The balance of a fixed-term appropriation is available only for payment of expenses properly incurred during the period of availability or to complete contracts properly made within that period.”

: : "An officer of employee of the United States Government may not: (a) make or authorize expenditure or obligation exceeding an amount available in an appropriation or fund for the expenditure or obligation; or (b) involve the government in a contract or obligation for the payment of money before and appropriation is made unless authorized by law.:

: "...may not accept voluntary services for either government or employ personal services exceeding that authorized by law except for emergencies involving the safety of human life or the protection of property."
: "...may not make or authorize expenditure or obligation exceeding an apportionment."

Drag and drop to complete the text.

    PURPOSE
    31 USC 1301
    TIME
    31 USC 1502
    AMOUNT
    31 USC 1341
    31 USC 1342
    31 USC 1517

Explanation

Question 35 of 173

1

Fill the blank space to complete the text.

An agency may not its appropriation from outside sources without specific statutory authority according to 31 USC 3302, 31 USC 1301 and 31 USC 209.

Explanation

Question 36 of 173

1

An agency may accept a gift given in the name of the US.

Select one of the following:

  • True
  • False

Explanation

Question 37 of 173

1

Fill the blank spaces to complete the text.

Name the two types of ADA penalty categories:
31 USC 1349 and 1518 -
31 USC 1350 and 1519 -

Explanation

Question 38 of 173

1

In view of the explicit provisions of 31 USC 1351, it has been held that there IS private right of action for declaratory, mandatory, or injunctive relief under the Antideficiency Act. (Thurston v. U.S. 1988)

Select one of the following:

  • True
  • False

Explanation

Question 39 of 173

1

Consider if $500 million were provided for a project/program that was to commence on 1 April of the Present Year (PY), then the current rate of operations for the continuing resolution in the current year (CY) would be:

Select one of the following:

  • $1 billion

  • $500 million

  • Not enough information

  • $2.5 million

Explanation

Question 40 of 173

1

If you obligate at the current rate (under a continuing resolution), and the Congress finally appropriates at a lesser rate, you have committed an Antideficiency Act Violation.

Select one of the following:

  • True
  • False

Explanation

Question 41 of 173

1

"The established rule is that the expenditure of public funds is proper only when authorized by Congress,"
describes __________________.

Select one of the following:

  • Legislative authority

  • Affirmative authority

  • Judicial authority

  • Executive authority

Explanation

Question 42 of 173

1

Which Act passed by Congress provides authorization for military construction?

Select one of the following:

  • Consolidated Appropriations Act

  • Legislative Authorization Act

  • DoD Appropriations Act

  • National Defense Authorization Act

Explanation

Question 43 of 173

1

Accounting classifications are codes used to:

Select one of the following:

  • Ensure funding is reliable and timely

  • Determine changes to existing authorizations

  • Manage appropriations and implement funds control

  • Ensure proper funding is authorized

Explanation

Question 44 of 173

1

To apply reasonable discretion and flexibility, the concept known as the _______________ was
developed which consists of a three part test?

Select one of the following:

  • Purpose statute

  • Necessary expense rule

  • Appropriations rule

  • Discretionary statute

Explanation

Question 45 of 173

1

The framework for appropriation analysis starts with the five W’s of funding with the correct appropriation. Most fiscal issues concerning the funding of ______________ will follow the traditional purpose, time, and amount analysis.

Select one of the following:

  • Commitments

  • Non-severable services

  • Accruals

  • Operations

Explanation

Question 46 of 173

1

The Antideficiency Act (ADA) is a series of Title 31 statutes that contain provisions limiting expenditure of appropriated funds. All of the following statements about ADA are correct, EXCEPT:

Select one of the following:

  • Decrees agencies must prescribe administrative control of funds

  • Prohibits expenditure or obligation exceeding an appropriation

  • Establishes strict provisions for ADA violations that apply in all circumstances

  • Provides the means for reporting ADA violations

Explanation

Question 47 of 173

1

What are the major finance functions in DoD Finance?

Select one or more of the following:

  • Entitlements

  • Payments

  • Collection

  • Control of Public Funds

Explanation

Question 48 of 173

1

Fill the blank space to complete the text.

What is the primary organization in DoD with the responsibility for Finance requirements?

Explanation

Question 49 of 173

1

Fill the blank space to complete the text.

What is the acronym for disbursing office identification numbers?

Explanation

Question 50 of 173

1

What primary types of official are accountable Individuals in DoD?

Select one or more of the following:

  • Department Accountable Officials

  • Certifying Officers

  • Disbursing Officers

  • None Listed

Explanation

Question 51 of 173

1

Debt collection includes collection of debts from what groups?

Select one or more of the following:

  • Active Military and Civilians

  • Retired Military and Civilians

  • Vendors

Explanation

Question 52 of 173

1

What is the normal collection method of debts owed by active military members and civilian employees who are still in service?

Select one of the following:

  • Salary Offset

  • Referral to the IRS

  • The employee must pay via check or cash

Explanation

Question 53 of 173

1

When collecting debts owed by vendors that have failed to properly respond to the demand letters, what is the next step?

Select one of the following:

  • Referral to the IRS

  • Do Not Pay List

  • Negotiation

Explanation

Question 54 of 173

1

When in doubt about the proper use of an appropriation, what may the disbursing officer request from the OSD General Counsel on the propriety of the prospective payment?

Select one of the following:

  • Advanced Decision

  • Relief in Place

  • Escalation of Certification

Explanation

Question 55 of 173

1

To what, along with accountability, does certification equate?

Select one of the following:

  • Liability

  • Responsibility

  • Knowledge

  • Acceptance

Explanation

Question 56 of 173

1

Who, besides the disbursing officer, is likely to be held accountable for an improper payment?

Select one of the following:

  • Certifying Officer

  • Vendor

  • Contracting Officer

Explanation

Question 57 of 173

1

If a civilian employee receives less than 90% of his or her normal biweekly pay and allowances, what may be or she request?

Select one of the following:

  • Special Pay

  • Advance on Salary

  • Leave

Explanation

Question 58 of 173

1

When a civilian employee moves from a job overseas to a job in the states, which organization pays for the Permanent Duty Travel?

Select one of the following:

  • The "losing" activity

  • The "gaining" activity

  • DFAS

  • The employee

Explanation

Question 59 of 173

1

Name the supporting documents required in the DoD payment package.

Select one or more of the following:

  • Invoice

  • Proof of Receipt

  • Acceptance Document

  • Contract

  • Manufacturer Quality Sheet

Explanation

Question 60 of 173

1

Name two key forms that provide accountability and control by Disbursing Officers.

Select one or more of the following:

  • SF 1219

  • DD 2657

  • SF 33

  • DD 1687

Explanation

Question 61 of 173

1

Which of the following statements is FALSE regarding the Government Purchase Card Program?

Select one of the following:

  • May be used for personal use

  • Only the authorized cardholder may use the purchase card

  • All purchases must be proper, legal, reasonable, and satisfy a bona fide need of the government

  • Intentional misuse of the card can result in disciplinary action, including card revocation, loss of job, fines, and/or confinement

Explanation

Question 62 of 173

1

Which agency is responsible for oversight of the DoD purchase card program?

Select one of the following:

  • General Services Administration (GSA)

  • Office of the Under Secretary of Defense for Acquisition, Technology and Logistics (OUSD(AT&L))

  • Defense Finance and Accounting Service (DFAS)

  • Defense Contract Audit Agency (DCAA)

Explanation

Question 63 of 173

1

Which branch of the Disbursing Office maintains and verifies funds and vouchers daily?

Select one of the following:

  • Check Branch

  • Accounts Branch

  • Credit Branch

  • Cash Branch

Explanation

Question 64 of 173

1

Internal control activities include all the following EXCEPT:

Select one of the following:

  • Segregation of duties

  • Proper authorization

  • Adequate documentation

  • Addressing Information Technology (IT) application controls separately from general controls

Explanation

Question 65 of 173

1

_______ is a control activity used to prevent one person from controlling multiple aspects of a transaction and allow that person to both cause and conceal misstatements whether errors or fraud.

Select one of the following:

  • Segregation of duties

  • Proper authorization

  • Adequate documentation

  • Independent check

Explanation

Question 66 of 173

1

The __________ contains general guidance to prepare, submit and process travel claims.

Select one of the following:

  • Financial Management Distributed Learning Center (FMDLC) guide

  • Financial Management Regulation (FMR)

  • Federal Acquisition Regulation (FAR)

  • Treasury Financial Manual (TFM)

Explanation

Question 67 of 173

1

The ______ prepares checks for properly certified vouchers and prepares checks for cash for the Disbursing Officer, Deputy Disbursing Officer, and Agents.

Select one of the following:

  • Accounts Branch

  • Cash Branch

  • Check Branch

  • Credit Branch

Explanation

Question 68 of 173

1

Which of the following statements about effective internal control is NOT accurate?

Select one of the following:

  • Segregation of duties is an internal control activity used to prevent one person from controlling multiple aspects of a transaction that might allow that person to both cause and conceal misstatements whether errors or fraud.

  • Effective internal control procedures depend largely on relying on the fewest number of people as possible to record and adjust high value transactions.

  • Internal control involves eliminating opportunities to conceal errors or irregularities

  • Segregation of duties or separation of duties, minimizes the potential for errors or attempts at fraud or embezzlement from going undetected.

Explanation

Question 69 of 173

1

A(n) ___________ may be an officer, enlisted member, or civilian employee satisfactory to both the appointing officer and Disbursing Officer (DO), who is appointed in writing to a Disbursing Officer (DO).

Select one of the following:

  • Accountant

  • Paying Agent

  • Billing Officer

  • Administrative Contracting Officer

Explanation

Question 70 of 173

1

________ are military members or civilian employees of a Federal Department or Agency designated to disburse monies and render accounts according to laws and regulations governing the disbursement of public monies.

Select one of the following:

  • Disbursing Officers

  • Clerks

  • Billing Officers

  • Accountants

Explanation

Question 71 of 173

1

______ is the first stage of a reimbursable transaction.

Select one of the following:

  • Earned reimbursement

  • Collection

  • Reimbursable authority received by the providing activity

  • Order Received

Explanation

Question 72 of 173

1

The ______ signs the receiving report or invoice certifying the goods have been provided or services rendered.

Select one of the following:

  • Procurement Contracting Officer

  • Billing Office

  • Certifying Officer

  • Administrative Contracting Officer

Explanation

Question 73 of 173

1

Payroll Office personnel must ensure that payroll data is complete and _________.

Select one of the following:

  • Audit ready

  • Accurate

  • Consistent

  • Reliable

Explanation

Question 74 of 173

1

As part of the DoD quality assurance and internal control programs, which organization leads the accounts receivable metric?

Select one of the following:

  • OUSD (C) Deputy CFO

  • OUSD (C) Business Integration Office (BIO)

  • OUSD (C) Accounting and Fiscal Policy Directorate (A&FP)

  • DFAS

Explanation

Question 75 of 173

1

Which of the following statements is FALSE regarding the Government Purchase Card Program?

Select one of the following:

  • May not be used for personal use.

  • Authorized cardholders and family members may use the card

  • All purchases must be proper, legal, reasonable, and satisfy a bona fide need of the government.

  • Intentional misuse of the card can result in disciplinary action, including card revocation, loss of job, fines, and jail time.

Explanation

Question 76 of 173

1

The Budget and Accounting Act of 1921 established the GAO (Legislative Branch) to audit financial transactions of which branch of the Government?

Select one of the following:

  • Legislative

  • Executive

  • Judicial

Explanation

Question 77 of 173

1

The GPRA requires agencies to define goals, set performance targets, and report what?

Select one of the following:

  • Actual Performance

  • Auditability Status

  • Risk Management Plan

  • Budget

Explanation

Question 78 of 173

1

Any enforceable agreement between an agency and a business concern for the acquisition of property or services is called what?

Select one of the following:

  • Contract

  • Commitment

  • Outlay

  • Authorization

Explanation

Question 79 of 173

1

What term is used to describe Federal Government funds that have been paid but have not yet been identified to a specific organization?

Select one of the following:

  • Undistributed Disbursements

  • Unmatched Transaction

  • Unidentified Outlay

  • Miscellaneous Disbursement

Explanation

Question 80 of 173

1

What term is used in SFFAS #4 to describe the process of accumulating, measuring, analyzing, interpreting, and reporting cost?

Select one of the following:

  • Managerial Accounting

  • Financial Accounting

  • Proprietary Accounting

  • Budgetary Accounting

Explanation

Question 81 of 173

1

What are the two self-balancing sets of accounts in the U.S. General Standard General Ledger (USGSGL)?

Select one or more of the following:

  • Budgetary

  • Proprietary

  • Assets

  • Miscellaneous

Explanation

Question 82 of 173

1

In proprietary accounting, assets equal liabilities plus what?

Select one of the following:

  • Net Position

  • Revenue

  • Expenses

  • Budgetary Status

Explanation

Question 83 of 173

1

The aggregate amount of an entity's funds in the Treasury is in what account?

Select one of the following:

  • Fund Balance with Treasury

  • Undistributed Disbursements

  • Imprest Fund

  • Advances

Explanation

Question 84 of 173

1

PP&E defines tangible assets with an estimated useful life of more than what number of years?

Select one of the following:

  • 5 years

  • 2 years

  • 1 year

  • 20 years

Explanation

Question 85 of 173

1

What is the Statement of Budgetary Resources equation?

Select one of the following:

  • Statement of Budgetary Resources = Status of Budgetary Resources

  • Statement of Budgetary Resources = Liabilities + Net Position

  • Statement of Budgetary Resources = Status of Budgetary Resources + Outlays

  • Statement of Budgetary Resources = Obligations + Outlays

Explanation

Question 86 of 173

1

Which financial statement shows the components of the net cost of the reporting entity's operation for the period?

Select one of the following:

  • Statement of Changes in Net Position

  • Statement of Net Cost

  • Statement of Budgetary Resources

  • Balance Sheet

Explanation

Question 87 of 173

1

What DoD accounting entity maintains a central general ledger?

Select one of the following:

  • DFAS

  • OMB

  • DCAA

  • FASAB

Explanation

Question 88 of 173

1

Which three Federal agencies established the FASAB?

Select one or more of the following:

  • OMB

  • OUSD (C)

  • GAO

  • Dept. of Treasury

Explanation

Question 89 of 173

1

When discussing accounting policy and process, one of the four main Agencies or activities that influence DoD accounting is?

Select one of the following:

  • Office of the Under Secretary of Defense (Comptroller) (OUSD(C))

  • Government Accountability Office (GAO)

  • DoD Office of the Inspector General (DoDIG)

  • Federal Accounting Standards Advisory Board (FASAB)

Explanation

Question 90 of 173

1

The _____________ develops standards and principles for accounting and auditing, conducts audits, and reports its findings to Congress, along with recommendations.

Select one of the following:

  • DoDIG

  • GAO

  • U.S. Treasury

  • Defense Finance and Accounting Services (DFAS)

Explanation

Question 91 of 173

1

A major role of DFAS is?

Select one of the following:

  • Financial manager for the Executive Branch

  • Acts as the government’s bank

  • Directs finance and accounting requirements

  • "Deliberates on and makes recommendations on accounting principles
    and standards"

Explanation

Question 92 of 173

1

The _____________ requires Federal agencies to provide reasonable assurance that their systems of internal accounting and administrative control are compliant with standards prescribed by the Comptroller General.

Select one of the following:

  • Federal Managers Financial Integrity Act (FMFIA)

  • Government Performance and Results Act (GPRA)

  • Inspector General Act (IGA)

  • Chief Financial Officers Act (CFOA)

Explanation

Question 93 of 173

1

The ___________ is the definitive source for the policies, regulations, and procedures under the authority of OUSD(C). Its purpose is to regulate financial management within the DoD.

Select one of the following:

  • DoD FMR

  • OMB Circulars

  • Treasury Financial Manuals (TFMs)

  • Federal Acquisition Regulation (FAR)

Explanation

Question 94 of 173

1

__________ provides a means to perform and monitor DFAS business management functions

Select one of the following:

  • E-Biz

  • Enterprise Business System (EBS)

  • General Accounting and Finance System (GAFS

  • Standard Finance System (STANFINS)

Explanation

Question 95 of 173

1

__________ is the Army’s new web-enabled system for integrating asset and accounting management systems into one system that standardizes, streamlines, and shares critical data across the Active Army, Army National Guard, and Army Reserve.

Select one of the following:

  • Defense Enterprise Accounting and Management System (DEAMS)

  • General Fund Enterprise Business System (GFEBS)

  • Defense Agencies Initiative (DAI)

  • Intra-Governmental Payment and Collection (IPAC)

Explanation

Question 96 of 173

1

Select from the dropdown lists to complete the text.

Identify if the account is proprietary or budgetary account; note if account is an asset, liability, net position, etc.; Show normal balance:
Account Number
4119 Other Appropriations Realized
( Budgetary, Proprietary )
( Budget, Liability, Asset, Revenue, Expense, Gain/Loss )
( Debit, Credit )

Explanation

Question 97 of 173

1

Select from the dropdown lists to complete the text.

Identify if the account is proprietary or budgetary account; note if account is an asset, liability, net position, etc.; Show normal balance:
Account Number
2590 Other Debt
( Proprietary, Budgetary )
( Liability, Asset, Net Position, Expense, Revenue, Gain/Loss )
( Credit, Debit )

Explanation

Question 98 of 173

1

Select from the dropdown lists to complete the text.

Identify if the account is proprietary or budgetary account; note if account is an asset, liability, net position, etc.; Show normal balance:
Account Number
1541 Forfeited Property Held for Sale
( Proprietary, Budgetary )
( Asset, Liability, Expense, Revenue, Gain/Loss, Budget )
( Debit, Credit )

Explanation

Question 99 of 173

1

Select from the dropdown lists to complete the text.

Identify if the account is proprietary or budgetary account; note if account is an asset, liability, net position, etc.; Show normal balance:
Account Number
3101 Unexpended Appropriations - Appropriations Received
( Proprietary, Budgetary )
( Net Position, Budget, Liability, Asset, Revenue, Expense, Gain/Loss )
( Credit, Debit )

Explanation

Question 100 of 173

1

Select from the dropdown lists to complete the text.

Identify if the account is proprietary or budgetary account; note if account is an asset, liability, net position, etc.; Show normal balance:
Account Number
1010 Fund Balance with Treasury
( Proprietary, Budgetary )
( Asset, Liability, Expense, Revenue, Budget, Gain/Loss, Net Position )
( Debit, Credit )

Explanation

Question 101 of 173

1

Select from the dropdown list to complete the text.

The USSGL is composed of five major sections: Chart of Accounts, Account Descriptions, Accounting
Transactions, USSGL Attributes, and ( Report Crosswalks, Trial Balances, DDRS-B, DDRS-AFS ).

Explanation

Question 102 of 173

1

Select from the dropdown list to complete the text.

The ( SF 132, SF 133, SF 1219, SF 1329 ) shows the amount of dollars the unit has available.

Explanation

Question 103 of 173

1

As with expenditure authority, installations and activities receive reimbursement authority on the funding
document that specifies appropriation and budget programs for which the installation may use funds. Which
Reimbursable Accounting Stage is this?

Select one of the following:

  • Authority Received stage

  • Orders Received stage

  • Earned Reimbursement stage

  • Collection/Transfer stage

Explanation

Question 104 of 173

1

Select from the dropdown list to complete the text.

There are two primary objectives for the managers of a revolving fund: control of all the costs of production and
( Expenditure of funds, Maintain a positive cash flow, The Antideficiency Act (ADA), Capital ).

Explanation

Question 105 of 173

1

Select from the dropdown list to complete the text.

There are two general categories of costs: capital cost and ( operating cost, direct cost, indirect cost, g&a cost ).

Explanation

Question 106 of 173

1

Another type of funding for DoD is the Defense Working Capital Funds (DWCF) also known as a _____ fund.

Select one of the following:

  • Revolving

  • Investment

  • Procurement

  • Operations

Explanation

Question 107 of 173

1

Within the Defense Appropriation, the MILPERS is an annual appropriation. The purpose of MILPERS is to fund Active, Reserve, and National Guard ______ .

Select one of the following:

  • Personnel

  • Procurement

  • Research

  • Investmenet

Explanation

Question 108 of 173

1

Disbursements are payments made to ________ an established obligation or provide cash in advance of performance.

Select one of the following:

  • Obligate

  • Liquidate

  • General and Administrative

  • Commit

Explanation

Question 109 of 173

1

What is the recognition of the expense of an asset over the years that benefit from the use of the asset?

Select one of the following:

  • Amortization

  • Depreciation

  • Depletion

  • Full Cost Recovery

Explanation

Question 110 of 173

1

Which of the following systems support interagency billing and colleting between the Federal Program Agencies (FPAs)?

Select one of the following:

  • Defense Cash Accountability System (DCAS)

  • CA$HLINK

  • Mechanization of Contract Administration Services (MOCAS)

  • Intra-governmental Payment and Collection System (IPAC)

Explanation

Question 111 of 173

1

The CFO Act of _____ focuses the financial management efforts of all Federal Departments and agencies on how well tax dollars are being spent.

Select one of the following:

  • 1989

  • 1995

  • 1990

  • 1985

Explanation

Question 112 of 173

1

If appropriation legislation is not enacted in time for future year operations to begin, what provides agencies the authority to continue operations?

Select one of the following:

  • Performance Based Agreement (PBA)

  • Continuing Resolution Authority

  • Reappropriaiton

  • Reprogramming

Explanation

Question 113 of 173

1

DoD receives its funding or authorization, other than transfer appropriations, through all of the below EXCEPT which one?

Select one of the following:

  • DoD Appropriations Act

  • Military Construction Act

  • National Defense Authorization Act

  • Prompt Payment Act

Explanation

Question 114 of 173

1

The stages of expenditure accounting transactions are funding, commitment, obligation, expenditure and ___________.

Select one of the following:

  • Reprogramming

  • Appropriation

  • Disbursement

  • Clearing Account

Explanation

Question 115 of 173

1

How are funds distributed form DoD to their subordinate organizations and activities?

Select one of the following:

  • Apportionments

  • Appropriations

  • Funding Authorization Documents (FADs) and Operating Budget Authority Documents (OBADs)

  • Warrants

Explanation

Question 116 of 173

1

The Federal Managers Financial Integrity Act (FMFIA) requires Federal agencies to provide _______ assurance that their systems of internal accounting and administrative control are compliant with standards prescribed by the Comptroller General.

Select one of the following:

  • Total

  • No

  • Unreasonable

  • Reasonable

Explanation

Question 117 of 173

1

Which of the following shows summary totals of all receipts and expenditures of public funds occurring during the accounting period and the status of the DO's account at the close of that period?

Select one of the following:

  • DD 2665, Daily Agent Accountability Summary

  • DD 2657, Daily Statement of Accountability

  • SF 1219, Statement of Accountability

  • ARM 1307, Accounting Report Monthly 1307, Report of Operations

Explanation

Question 118 of 173

1

Within the Federal Government, the _________ is the financial manager for the Executive Branch.

Select one of the following:

  • Office of Management and Budget (OMB)

  • Treasury

  • Defense Finance and Accounting (DFAS)

  • Office of the Under Secretary of Defense (Comptroller)

Explanation

Question 119 of 173

1

By purpose, appropriated funds can be categorized as all of the below EXCEPT:

Select one of the following:

  • Direct Funds

  • Research Funds

  • Investment Funds

  • Operating Funds

Explanation

Question 120 of 173

1

The Certifying Officer Legislation (COL), Public Law 104 - 106, requires the appointment of ___________ responsible for the accuracy and certification that payment vouchers are correct for payment.

Select one of the following:

  • Deputies

  • Certifying Officers

  • Comptrollers

  • Chief Financial Officers

Explanation

Question 121 of 173

1

_________________ is an approach to manage business better through three important objectives: the automation and integration of business processes, common data and practices shared enterprise wide, and produce and access information in real time.

Select one of the following:

  • Enterprise Resource Planning

  • Government Performance Results Act

  • Prompt Payment

  • Strategic Planning

Explanation

Question 122 of 173

1

The __________ phase of PPBE process establishes the final estimated costs for the DoD portion of the President's Budget.

Select one of the following:

  • Programming

  • Budget Formulation

  • Execution

  • Planning

Explanation

Question 123 of 173

1

The __________ is established for the codification and publication of uniform policies and procedures for acquisition by all executive agencies.

Select one of the following:

  • Office of Management and Budget (OMB) A-123

  • Office of Management and Budget (OMB) A-11

  • DoD FMR

  • Federal Acquisition Regulation (FAR)

Explanation

Question 124 of 173

1

A _______ is directly related or traceable to an output or single product.

Select one of the following:

  • Indirect cost

  • Direct cost

  • Mixed cost

  • Capital cost

Explanation

Question 125 of 173

1

The ADA contains prohibitions with respect to the _______ use of funds an has punitive provisions for violations for the prohibitions.

Select one of the following:

  • Authorized

  • Legal

  • Appropriated

  • Unauthorized

Explanation

Question 126 of 173

1

The Federal Information Security Management Act of 2002 (FISMA) provides a comprehensive framework for ensuring the effectiveness ____________ controls over information resources that support Federal operations and assets.

Select one of the following:

  • Information Security

  • Password

  • Audit compliance

  • Government Performance and Results Act (GPRA)

Explanation

Question 127 of 173

1

The Annual Statement of Assurance does not include:

Select one of the following:

  • Statement of compliance

  • Controls are achieving their intended objectives

  • Material weaknesses are identified

  • Strategic Plan

Explanation

Question 128 of 173

1

What is the Federal law that specifically required existing CFO agencies to have financial statements that successfully pass a financial audit?

Select one of the following:

  • CFO Act of 1990

  • Government and Management Reform Act (GMRA) of 1994

  • Government Performance and Results Act (GPRA) of 1993

  • Government Performance and Results Act Modernization Act (GPRAMA) of 2010

Explanation

Question 129 of 173

1

What is the definition of a 'successful financial audit?'

Select one of the following:

  • All government agencies have had financial statements audited

  • Achieving an unqualified audit opinion

  • No material weaknesses found

  • Achieving a qualified audit opinion

Explanation

Question 130 of 173

1

In which of the four waves of the FIAR process would a DoD entity expect to have an auditable Statement of Budgetary Resources, to include its Funds Balance with Treasury?

Select one of the following:

  • Wave 1

  • Wave 2

  • Wave 3

  • Wave 4

Explanation

Question 131 of 173

1

Government audits provide essential elements of public accountability and what?

Select one of the following:

  • Control

  • Justice

  • Absolute Assurance

  • Deniability

Explanation

Question 132 of 173

1

Which standards generally apply to General Government audits?

Select one of the following:

  • Generally Accepted Government Auditing Standards (GAGAS)

  • Generally Accepted Accounting Principles

  • Generally Accepted Auditing Standards (GAAS)

  • International Auditing Standards (IAS)

Explanation

Question 133 of 173

1

Who conducts, supervise, monitors, and initiates audits an investigations relating to DoD programs and operations?

Select one of the following:

  • DoD IG

  • OUSD (C)

  • DFAS Audit Director

  • Defense Audit Agency

Explanation

Question 134 of 173

1

Which is the DoD document that provides policy for DoD audit and internal review offices to use for conducing audits of dodo operations, systems, programs, and functions?

Select one of the following:

  • DoD IG Handbook

  • Defense Audit Guidance

  • Generally Accepted Government Audit Standards Briefing

  • Manager's Internal Control Program Handbook

Explanation

Question 135 of 173

1

Auditors auditing with personal impairments violate which standard?

Select one of the following:

  • Independence

  • Technical Training

  • Professional Care

Explanation

Question 136 of 173

1

Select from the dropdown lists to complete the text.

An auditor must complete ( 80, 60, 120, 40 ) hours of continuing professional education must an auditor complete every 2 years, and a minimum of ( 20, 40, 10, 60 ) hours that must be completed in any year of that 2-year period.

Explanation

Question 137 of 173

1

The auditor is restricted access to essential data necessary to satisfy the audit objective. What type of impairment would this be?

Select one of the following:

  • External Impairment

  • Personal Impairment

  • Internal Impairment

Explanation

Question 138 of 173

1

Select from the dropdown list to complete the text.

( Financial Audits, Performance Audits, Attestatation Engagements ) are the type of audits are expected to determine whiter: The financial info is presented IAW established or stated criteria; the entity has adhered to specific financial compliance requirements; and the entity's internal control over financial reporting and/or safeguarding of assets is suitably designed and implemented to achieve the control objectives.

Explanation

Question 139 of 173

1

Select from the dropdown list to complete the text.

( Performance audits, Financial audits, Attestation Engagement ) are the type of audits expected to determine whether: the entity is acquiring, using, and protecting its resources economically and efficiently; the entity's program are achieving the desired results o r benefits; and the entity is accomplishing its mission IAW applicable laws, regulations, and public policies.

Explanation

Question 140 of 173

1

Which audit phase involves gathering evidence and determining materiality and significance of the findings?

Select one of the following:

  • Planning

  • Review

  • Reporting

Explanation

Question 141 of 173

1

During which audit phase would the auditor select the most important areas for audit coverage?

Select one of the following:

  • Planning

  • Review

  • Reporting

Explanation

Question 142 of 173

1

What document includes the audit objectives, findings ,and recommendations?

Select one of the following:

  • The Audit Report

  • Opinion

  • Balance Sheet

  • Manager's Assessment

Explanation

Question 143 of 173

1

What should be considered when evaluating the effectiveness of DoD audit organizations?

Select one of the following:

  • Audit Benefits

  • People

  • Location

  • Process Documents

Explanation

Question 144 of 173

1

What is the name of the GAO standard that provides reasonable assurance that DoD auditors comply with applicable auditing standards and DoD audit policies?

Select one of the following:

  • Quality Control and Assurance

  • Internal Controls

  • Independence

Explanation

Question 145 of 173

1

Inspection of office security, separate and secure storage of records and equipment, and restricted system access are examples of what kind of controls?

Select one of the following:

  • Internal Controls

  • Physical Security

  • Auditability

Explanation

Question 146 of 173

1

If auditors are deterred from acting objectively and exercising professional skepticism by pressures, actual or perceived, from management of the entity being audited, what would this be called?

Select one of the following:

  • Threat to Auditor Indpendence

  • Conflict of Interest

  • Ineffective Audit Procedures

  • Questionable Relationship

Explanation

Question 147 of 173

1

Which of the statements below concerning Internal Control is correct?

Select one of the following:

  • Internal Control is done once, like a checklist

  • Internal Control involves auditing of employees by external auditors

  • Internal Control is a process to obtain an absolute assurance that organization objectives will be met

  • Internal Control is a continuous part of operations used by an organization to achieve its mission

Explanation

Question 148 of 173

1

Government Accountability Office (GAO) Standards for Internal Control include all of the below, except:

Select one of the following:

  • Monitoring

  • Control Activities

  • Implementation

  • Control Environment

Explanation

Question 149 of 173

1

Which of the following is the management responsibility regarding Internal Control within an organization?

Select one of the following:

  • Risk assessment, documentation and developing of controls to mitigate risks

  • Testing effectiveness and efficiency of Internal Controls

  • Risk assessment at the highest level since only these kinds of risks can have a material impact to an organization's mission

  • Implementation of controls on a day-to-day basis

Explanation

Question 150 of 173

1

List the Agencies that Audit DoD:

Select one or more of the following:

  • DoD IG

  • Defense Contracting Audit Agency

  • Army Audit Agency

  • Naval Service Audit Agency

  • GAO

  • Air Force Audit Agency

Explanation

Question 151 of 173

1

The Defense Contract Audit Agency (DCAA), one of the key organizations auditing DoD, reports to which level of government?

Select one of the following:

  • Congress

  • The Secretary of the Army

  • The Department of Defense Level

  • The Secretary of the Air Force

Explanation

Question 152 of 173

1

One of the main missions and roles of The Government Accountability Office (GAO) includes:

Select one of the following:

  • Providing assistance with negotiation, administration, and settlement of contracts and subcontracts

  • Assessing and improving Air Force fiduciary stewardship and the accuracy of financial reporting

  • Investigating and auditing Federal Government taxpayer dollars spending

  • Providing independent audit services to assist Department of the Navy leadership in assessing risk to improve efficiency, accountability, and program effectiveness

Explanation

Question 153 of 173

1

The most authoritative source of guidance used by internal and external DoD auditors is called _________.

Select one of the following:

  • Federal Accounting Standards Advisory Board (FASAB) Technical Bulletins

  • Generally Accepted Governmental Auditing Standards (GAGAS)

  • Office of Management and Budget (OMB) Circular A-123 Appendix A

  • Technical Releases of the Accounting and Auditing Policy Committee of the FASAB

Explanation

Question 154 of 173

1

Listed below are the different types of DoD audits, except:

Select one of the following:

  • Compliance Audits

  • Financial Audits

  • Attestation Engagements

  • Performance Audits

Explanation

Question 155 of 173

1

Which statement below concerning Internal Auditors is true?

Select one of the following:

  • Internal auditors perform audits to express an opinion on the financial statements

  • Internal auditors can express a partial opinion on the financial statements

  • Internal auditors can never assist external auditors in audits over internal controls since that might violate an organization's policies

  • Internal auditors can assist in the auditing process by performing limited reviews; however, they cannot express an opinion on the financial statements

Explanation

Question 156 of 173

1

Which of the following is the correct sequence of steps taken during DoD audits?

Select one of the following:

  • Fieldwork, Pre-Planning, Draft Report, Planning

  • Fieldwork, Pre-Planning, Planning Draft Report

  • Management Comments, Fieldwork, Planning, Final Report

  • Pre-Planning, Planning, Fieldwork, Final Report

Explanation

Question 157 of 173

1

Which of the below is an audit procedure frequently performed during Fieldwork by auditors?

Select one of the following:

  • Reviewing prior audit findings and recommendations

  • Conducting exit conference with management

  • Developing a risk-based audit guide

  • Coordinating with external audit agencies

Explanation

Question 158 of 173

1

Select from the dropdown list to complete the text.

An ( Certifying Official, Auditor, Inspector, Investigator ) will determine whether a process is effective and efficient and will make recommendations to an organization DoD.

Explanation

Question 159 of 173

1

Which of the following is the correct sequence of steps taken during DoD audits?

Select one of the following:

  • Pre-planning, Planning, Fieldwork, Final Report

  • Management Comments, Fieldwork, Planning Final Report

  • Fieldwork, Pre-planning, Planning Draft Report

  • Fieldwork, Pre-planning, Draft Report, Planning

Explanation

Question 160 of 173

1

An audit is an impartial and objective appraisal or verification of all of the below EXCEPT:

Select one of the following:

  • Data and procedures

  • Diverse operations, systems, and activities

  • The auditor's personal opinion of the process being audited, supplemented by his trusted advisors' opinions

  • Programs, functions, or funds

Explanation

Question 161 of 173

1

From the options below, please select the one that accurately lists types of control activities which organizations should adopt:

Select one of the following:

  • Consequential, Detective, Preventative

  • Automated, Corrective, Detective

  • Preventative, Corrective, Detective

  • Corrective, Automated, Consequential

Explanation

Question 162 of 173

1

Established in 1982, the _______ promotes effective, efficient, and economic operations. It receives and investigates complaints and keeps the Secretary of Defense and congress informed

Select one of the following:

  • DoDIG

  • Governmental Accountability Office

  • Army Audit Agency

  • Defense Contract Audit Agency

Explanation

Question 163 of 173

1

Government Accountability Office (GAO) Standards for Internal Control include all of the below, EXCEPT:

Select one of the following:

  • Control Environment

  • Monitoring

  • Information and Communication

  • Control Execution

Explanation

Question 164 of 173

1

Which of the following is a characteristic of an external DoD auditor?

Select one of the following:

  • The external auditor is independent of the organization DoD

  • External auditor is a part of the DoD

  • Reports provided by the external auditor remain within the organization DoD and are not distributed to the public

  • They are Government employees

Explanation

Question 165 of 173

1

Select from the dropdown lists to complete the text.

( Financial audits, Attestation Engagements, Performance audits ) review whether financial information is presented fairly in accordance with criteria, while ( performance audits, Financial audits, Attestation Engagements ) can review any subject or process to determine if it is efficient, effective, and complies with criteria.

Explanation

Question 166 of 173

1

Which of the following concerning internal controls is correct?

Select one of the following:

  • Internal control is done once, like a checklist.

  • Internal control involves auditing of employees by external auditors.

  • Internal control is a process to obtain an absolute assurance that organization objectives will be met.

  • Internal control is a continuous part of operations used by an organization to achieve its mission.

Explanation

Question 167 of 173

1

Which characteristic is NOT common to both external and internal auditors?

Select one of the following:

  • Provide independent and objective assessment

  • Evaluate risk management

  • Validate controls that are in place to prevent fraud, waste, and improprieties

  • Report outside the DoD

Explanation

Question 168 of 173

1

All of the statements below are accurate regarding Internal Control, EXCEPT:

Select one of the following:

  • Internal control helps to produce reliable financial reporting

  • Internal control helps to maintain effective and efficient operations

  • Internal control implementation eliminates the need for managers to continuously assess the risks and adopt additional controls

  • Internal control helps to ensure compliance with applicable laws and regulations

Explanation

Question 169 of 173

1

What are the most important qualities of information?

Select one of the following:

  • Relevance, Reliability, Timeliness

  • Correctness, Timeliness, Accuracy

  • Accuracy, Reliability, Correctness

  • Timeliness, Relevance, Accuracy

Explanation

Question 170 of 173

1

Which of the following in NOT an organization that audits DoD?

Select one of the following:

  • DCAA

  • the Naval Audit Service

  • Army Audit Agency

  • The Accuracy Auditing Service

Explanation

Question 171 of 173

1

The Budget and Accounting Act of 1921 did which of the following:

Select one or more of the following:

  • Required President to submit an annual budget to Congress

  • Created a budget office for the President

  • Established the Government Accountability Office

  • Required financial statements from each executive branch

Explanation

Question 172 of 173

1

An Undelivered Check occurs when a check is not delivered within 60 days after the date of issue. It is disposed of and then processed on a:

Select one of the following:

  • SF 1098

  • SF 1219

  • SF 1099

  • SF 1180

Explanation

Question 173 of 173

1

What factors do NOT affect a certifying officers duty to report the existence and correctness of the facts stated in a voucher:

Select one or more of the following:

  • Mistake

  • Inadvertency

  • Lack of Intent

  • Minor Violation

  • Difficult Working conditions

  • Lack of training or personnel

Explanation

Previous
Next