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Logistic Specialist > NAVEDTRA 15004B, Logistic Specialist Training Manual, Chapter 8 Financial Management > Flashcards

NAVEDTRA 15004B, Logistic Specialist Training Manual, Chapter 8 Financial Management Flashcards

1
Q

Which type of accounting is an account of how much money has been spent, how much is obligated and how much is available under each appropriation or subdivision?

A

Appropriation

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2
Q

What type of accounting is an account through which the Navy can accumulate all costs according to activity or unit, purpose and type of expenditure?

A

Cost

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3
Q

What type of accounting is an account used to maintain records of material and supplies on hand?

A

Inventory

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4
Q

What type of accounting is an account used to maintain records of all Navy-owned or Navy-controlled real property and equipment of a capital nature ashore?

A

Plant Property

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5
Q

The Navy expends money from which two major classifications?

A

Appropriation and Funds

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6
Q

What is an authorization by an Act of Congress to incur obligation for a specified time and purpose and to make payments out of the Treasury?

A

Appropriation

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7
Q

What is the accounting period of the Navy?

A

Fiscal Year

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8
Q

How many types of appropriations may be used in the Navy, depending upon the purpose for which they are issued?

A

3

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9
Q

What occurs when an order is placed by an afloat unit or material is issued to an ashore activity, or similar transactions during a given period that requires future payments?

A

Obligation

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10
Q

After the end of the fiscal year, the Navy must return any unobligated balance to the Treasury. Obligated funds remain available for how many additional years?

A

2

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11
Q

What is an appropriation without a freed period?

A

Continuing Appropriation

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12
Q

What appropriations are generally made for purposed that require long-lead time of planning and execution such as procurement of Aircraft and Missiles, Navy and Shipbuilding and Conversion Navy?

A

Multiple-year

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13
Q

At the end of the 2 years following the expiration of obligation availability, the balance remaining in the account, representing un-liquidated obligations less reimbursements to be collected, is transferred to the successor of what account?

A

“M’

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14
Q

What is an appropriation that is available for incurring obligations during the current fiscal year?

A

Current

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15
Q

What is an appropriation that is no longer available for incurring obligations?

A

Expired

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16
Q

What is the undisbursed balance of an appropriation?

A

Lapsed

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17
Q

The appropriation symbol consists of how many digits of number identifying the government agency responsible for administering the appropriation, the fiscal year and the specific appropriation?

A

7

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18
Q

All appropriations assigned to the Navy are identified by what number, which is shown as the first two digits of the appropriation symbol?

A

“17”

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19
Q

What codes are three characters long and are used only in OPTAR transactions that affects the international balance of payments?

A

Object Class

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20
Q

Who has fiscal responsibility for the appropriation 1751804 for operation and maintenance of Navy forces?

A

CNO

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21
Q

What is the Unit Identification Code (UIC) of the activity that performs the accounting for an operating budget/fund?

A

AAA

(Authorization Accounting Activity)

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22
Q

All UICs currently assigned are listed in what manual?

A

NAVCOMPT Manual, Volume 2, Chapter 5

23
Q

The cost code consists of how many characters and may be alphabetic, numeric, or both?

A

12

24
Q

What is the most common code structure used by afloat units in requisitions for material and services?

A

Cost Code

25
Q

Funds fill a very important need in financing the day-to-day operations of the Navy. What are the two types of funds that are used extensively?

A

Revolving and Trust

26
Q

What is a fund established to finance a cycle of operations?

A

Revolving

27
Q

What provides the necessary capital to finance the purchase and maintenance of stocks for common supply items required by the Navy?

A

NWCF

28
Q

Basic capital for the NWCF is made available from?

A

Congress

29
Q

The NWCF is reimbursed for supplies when they are issued or sold. While these supplies are waiting to be sold, they are in?

A

NSA

Navy Stock Account

30
Q

What serves as the “holding account” for NWCF procured supplies before their sale?

A

NSA

Navy Stock Account

31
Q

What is a revolving fund used to finance industrial commercial-type activities?

A

NIF

Navy Industrial Fund

32
Q

What provides a single permanent revolving fund for financing all work not chargeable to a current naval appropriation?

A

NWF

Navy Working Fund

33
Q

What is used for the economical and efficient completion of Navy operations, which are financed by two or more appropriations?

A

NMF

Navy Management Fund

34
Q

What is a fund held in trust by the Navy for use as specified in a special agreement or Act of Congress?

A

Trust Fund

35
Q

What is a trust fund for providing recreation and entertainment for enlisted personnel?

A

SSPN

Ship’s Store Profits, Navy

36
Q

What is a series of systems designed to promote better management procedures throughout the Department of Defense (DoD) by providing managers with improved methods of obtaining and controlling resources required to accomplish the assigned missions?

A

RMS

Resource Management System

37
Q

Who is any individual, either military or civilian, who is accountable and responsible for carrying out a significant mission or function and who makes decisions that will have a significant effect on the resources used?

A

Resource Manager

38
Q

What method of accounting is used where operating costs are accounted for in fiscal (accounting) period during which the costs of resources consumed or applied are received?

A

Accrual

39
Q

What is the financial authority issued by a major claimant or sub-claimant to an intermediate level of command?

A

Expense Limitation

40
Q

Major claimants receive operating budgets directly from who?

A

CNO

Chief of Naval Operations

41
Q

What is the budgeted amount within an operating budget approved in a fixed amount for incurring obligations or unfilled orders?

A

Obligation authority

42
Q

What is an authorization of funds subject to administrative control issued to a level below the responsibility center?

A

OPTAR

Operating Target

43
Q

What is an administrative money ceiling established by the fleet commander?

A

Threshold

44
Q

What is the term used to provide quantitative information of the physical output applicable to a subdivision in the operating budget?

A

Work Unit

45
Q

For accounting purposed, what is a general term used to describe a request document for material or services that has been entered in the OPTAR log?

A

Unfilled Order

46
Q

How many interrelated subsystems make up the RMS (Resource Management System) to meet the objectives of the DoD?

A

4

47
Q

When SUADPS-RT activities requisition material for stock or direct turnover (DTO), they use NWCF money by citing what fund code on the external requistion?

A

SAC 207

48
Q

Who performs the official accounting and reporting for OPTARs issued by the TYCOM?

A

DFAS

49
Q

What is defined as an estimate of the amount of money that will be required by an operating ship, staff, squadron, or other unit to perform assigned tasks and functions?

A

OPTAR

50
Q

Each ship, aviation squadron, or command issued an OPTAR is responsible for the efficient and effective use including accurate and timely accounting and reporting according to procedures outlined in what publication?

A

NAVSO P-3013

51
Q

Who performs the official accounting for OPTARs granted to ships, aviation squadrons and other commands, as assigned?

A

DFAS NORFOLK

52
Q

The Summary Filled Order/Expenditure Difference Listing (SFOEDL) is forwarded by the DFAS to individual OPTAR holders to each OPTAR held how often?

A

Monthly

53
Q

SFOEDL is report of all filled orders with a difference of what amount or more?

A

$250

54
Q

The UOL lists all unfilled orders over how many days old held in the DFAS files that have not matched with related expenditure documents and have not been cancelled?

A

120 days

Logistic Specialist (7 decks)

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