Mod 3.3

Question 0

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

Answer 0

Actual performance

Question 1

The budget and accounting act of 1921 established the GAO (legislative branch) to audit financial transactions of which branch of the government?

Answer 1

Executive branch

Question 2

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

Answer 2

A contract

Question 3

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

Answer 3

Undistributed disbursements

Question 4

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

Answer 4

Managerial cost accounting

Question 5

What are the two self balancing sets of accounts in the US government standard general ledger (USGSGL)?

Answer 5

Budgetary and proprietary

Question 6

In proprietary accounting, assets equal liabilities plus what?

Answer 6

Net position

Question 7

The aggregate amount of an entities funds in the treasury is in what account?

Answer 7

Fund balance with treasury

Question 8

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

Answer 8

Two years

Question 9

What is the statement of budgetary resources equation?

Answer 9

Budgetary resources = status of budgetary resources

Question 10

Which financial statement shows the components of the net cost of the reporting into cheese operation for the period?

Answer 10

Statement of net cost

Question 11

What DOD accounting entity maintains a central general ledger?

Answer 11

The defense finance and accounting service (DFAS)

Question 12

Which three federal agencies established the FASAB?

Answer 12

The government accountability office (GAO), the Department of treasury, and the office of management and budget (OMB)