Vol 5 - Financial Management Flashcards

1
Q

Which stage of the PPBE begins when the president signs the Appropriations Bill?

A

Execution

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2
Q

______ is responsible for aligning a new NexGen Work Group to a Shop Rate.

A

CE FM

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3
Q

The FIAR methodology defines the ______, underlying detailed activities and resulting work products that all reporting entities should follow to become audit ready.

A

key tasks

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4
Q

Sustainment maintenance is a category of Sustainment Activities, which of the following is part of sustainment maintenance?

A

Work to maintain the inventory of real property assets through its expected service life

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5
Q

By performing these test procedures in advance of a financial statement audit, reporting entities can identify gaps in controls and documentation that require the implementation of corrective actions ______ the audit.

A

prior to

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6
Q

Which stage of the PPBE is a period when planning decisions, programming guidance, and congressional guidance are converted into a detailed allocation of resources?

A

Programming

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7
Q

All of the following are valuation challenges that must be addressed in coordination with leading OSD offices except?

A

Gathering Personal Data

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8
Q

While progress has been made, time is of the essence; therefore, the Strategy has been updated and re-aligned to stress the urgency necessary to achieve full financial statement audits within the ______.

A

congressionally-mandated timeframe

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9
Q

Which type of work classification includes scheduled repair activities to maintain the inventory of real property assets enabling them to reach their expected service life?

A

Sustainment Repair

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10
Q

______ ensures programs are properly and reasonably priced.

A

Program and Budget Review

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11
Q

From the following Accounting Classification code select the part of the code that contains the appropriation code.

5703400 300 7815 111300 01 50641 667100 18551F AA

A

3400

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12
Q

Which part of the budget cycle is where funds are allocated, obligated, and expended to accomplish DoD’s plan?

A

Execution

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13
Q

All ______ cost centers need to have a corresponding reimbursable cost center, so that when that Work Group performs work, the appropriate reimbursable cost center can be generated on the Reimbursable Report.

A

Actual Time Accounting (ATA)

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14
Q

From the following Accounting Classification code select the part of the code that contains the program element code.

5703840 300 7815 111300 01 50641 667100 18551F AA

A

18551F

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15
Q

Which part of the budget cycle produces a budget resolution?

A

Review and Enactment

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16
Q

Which stage of the PPBE produces the Defense Planning and Programming Guidance (DPPG)?

A

Planning

17
Q

The Air Force Element of Expense/Investment Code (EEIC) is a three- or five-character code consisting of ______ segments.

A

2

18
Q

Sustainment repair is a category of Sustainment Activities, which of the following is part of Sustainment repair?

A

Major repairs or replacement of facility components that are expected to occur periodically throughout the life cycle of facilities

19
Q

Which type of work classification includes work to maintain the inventory of real property assets through its expected service life?

A

Sustainment Maintenance

20
Q

Which part of the budget cycle is an act of Congress that authorizes agencies to incur obligations against the Treasury?

A

Appropriation Bill

21
Q

Which type of work classification includes alteration of facilities or components solely to implement new or higher standards?

A

Modernization Repair

22
Q

Which part of the budget cycle gives the government the authority to pursue particular programs?

A

Authorization Bill

23
Q

Which stage of accounting is when a need is realized?

A

Requirements Identified

24
Q

Which type of work classification includes repair and replacement work to restore facilities collaterally damaged due to inadequately sustained components, natural disaster, fire, accident or other causes?

A

Restoration Repair

25
Q

Which stage of the PPBE is when programs identified in the POM are reviewed?

A

Budgeting

26
Q

FIAR compliance supported by an accurate ______ for capitalization is a critical action for CEOER to accomplish.

A

DD1354

27
Q

Which stage of accounting is a legal liability incurred by the government?

A

Obligation

28
Q

Which stage of accounting is an actual payment of funds?

A

Expenditure

29
Q

Which part of the budget cycle acts as a blueprint for the appropriation process?

A

Budget resolution

30
Q

Facilities Sustainment (xxx78F) provides resources for maintenance and repair activities necessary to keep facilities in the Departments real property inventory in good working order and includes all of the following except?

A

Modernization

31
Q

______ Is a parametric model that estimates the amount of sustainment funding necessary to adequately sustain infrastructure of various types.

A

Facility Sustainment Model (FSM)

32
Q

Once it is determined that there has been a violation of 31 U.S.C. §§ 1341(a), 1342, or 1517(a), the agency head “shall report ______ to the President and Congress all relevant facts and a statement of actions taken.

A

immediately

33
Q

Financial Improvement and Audit Readiness (FIAR) success will be demonstrated through a financial statement audit performed by ______, resulting in an unmodified audit opinion on the Department’s financial statements.

A

independent auditors

34
Q

Which type of work classification includes work associated with functional conversion and work classified as UMC?

A

Modernization/Minor Construction

35
Q

An unlawful obligation and expenditure of appropriated funds can result in a violation of the ______.

A

Anti-Deficiency Act

36
Q

Which part of the budget cycles primary focus is on the current budget year?

A

Formulation

37
Q

Which stage of accounting is administrative reservation of funds/intent to spend?

A

Commitment