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

Question 1

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?

Answer 1

Appropriation

Question 2

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?

Answer 2

Cost

Question 3

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

Answer 3

Inventory

Question 4

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?

Answer 4

Plant Property

Question 5

The Navy expends money from which two major classifications?

Answer 5

Appropriation and Funds

Question 6

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?

Answer 6

Appropriation

Question 7

What is the accounting period of the Navy?

Answer 7

Fiscal Year

Question 8

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

Answer 8

3

Question 9

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?

Answer 9

Obligation

Question 10

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?

Answer 10

2

Question 11

What is an appropriation without a freed period?

Answer 11

Continuing Appropriation

Question 12

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?

Answer 12

Multiple-year

Question 13

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?

Answer 13

“M’

Question 14

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

Answer 14

Current

Question 15

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

Answer 15

Expired

Question 16

What is the undisbursed balance of an appropriation?

Answer 16

Lapsed

Question 17

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?

Answer 17

7

Question 18

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

Answer 18

“17”

Question 19

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

Answer 19

Object Class

Question 20

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

Answer 20

CNO

Question 21

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

Answer 21

AAA

(Authorization Accounting Activity)

Question 22

All UICs currently assigned are listed in what manual?

Answer 22

NAVCOMPT Manual, Volume 2, Chapter 5

Question 23

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

Answer 23

12

Question 24

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

Answer 24

Cost Code

Question 25

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?

Answer 25

Revolving and Trust

Question 26

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

Answer 26

Revolving

Question 27

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

Answer 27

NWCF

Question 28

Basic capital for the NWCF is made available from?

Answer 28

Congress

Question 29

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

Answer 29

NSA Navy Stock Account

Question 30

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

Answer 30

NSA Navy Stock Account

Question 31

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

Answer 31

NIF Navy Industrial Fund

Question 32

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

Answer 32

NWF Navy Working Fund

Question 33

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

Answer 33

NMF Navy Management Fund

Question 34

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

Answer 34

Trust Fund

Question 35

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

Answer 35

SSPN Ship's Store Profits, Navy

Question 36

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?

Answer 36

RMS Resource Management System

Question 37

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?

Answer 37

Resource Manager

Question 38

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?

Answer 38

Accrual

Question 39

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

Answer 39

Expense Limitation

Question 40

Major claimants receive operating budgets directly from who?

Answer 40

CNO Chief of Naval Operations

Question 41

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

Answer 41

Obligation authority

Question 42

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

Answer 42

OPTAR Operating Target

Question 43

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

Answer 43

Threshold

Question 44

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

Answer 44

Work Unit

Question 45

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?

Answer 45

Unfilled Order

Question 46

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

Answer 46

4

Question 47

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?

Answer 47

SAC 207

Question 48

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

Answer 48

DFAS

Question 49

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?

Answer 49

OPTAR

Question 50

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?

Answer 50

NAVSO P-3013

Question 51

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

Answer 51

DFAS NORFOLK

Question 52

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

Answer 52

Monthly

Question 53

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

Answer 53

$250

Question 54

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?

Answer 54

120 days