Finance CDC's Vol. 2 Book 1

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  1. What is the major difference between the responsibilities of the Financial Management Analysis (FMA) and the Defense Finance and Accounting Service (DFAS)?
    d. FMA handles the accounting processes at base level serves as a liaison between the base organizations and DFAS.
  2. Overall responsibility for obligation accounting is maintained by
    c. Finance andAccounting.
  3. All accounting classifications must contain at least the accounting and disbursing station number (ADSN) and the
    d. appropriation symbol.
  4. Which step in determining the elements of the accounting classification tells you to ensure the accounting station number is noted?
    c. Step 5.
  5. Which funds are established to record collections for no year and clearing accounts?
    b. Deposit.
  6. Which code identifies what is being purchased?
    b. EEIC.
  7. What code is the first subdivision of the accounting classification below the appropriation level and always starts with the letter "P"?
    b. Budget program.
  8. The disbursement accounting process begins when
    d. service is requested.
  9. When a requirement is known but a firm price is not, an administrative reservation of funds is processed and is also known as
    d. a commitment stage.
  10. Which stage of accounting liquidates the obligation?
    a. AEP.
  11. After receiving utilities estimates from Civil Engineering (CE), the Defense Finance and Accounting Service (DFAS) enters the estimate into
    a. General Accounting and Finance System (GAFS) as unfilled customer orders (UFCO).
  12. What is the first step in identifying the stages of accounting?
    b. Determine the type of accounting your working with.
  13. When identifying the stages of accounting for obligations, which step directs you to ensure that funds are at the proper disbursement stage?
    b. Step 2.
  14. The General Accounting and Finance System (GAFS) uses internal files to track funds and stores them on a magnetic disk, this storage is also called
    a. immediate access storage.
  15. Which record is not established at the beginning of the fiscal year?
    d. Document summary record (DSR).
  16. Each combination of element of expense/investment code (EEIC) and responsibility center/cost center (RC/CC) codes requires a separate
    c. Program summary record (PSR).
  17. Which system was designed to automate the accounts payable process?
    b. Integrated Accounts Payable System (IAPS).
  18. What is the link between the Integrated Accounts Payable System (IAPS) and the General Accounting and Finance System (GAFS)?
    a. ICI.
  19. What system is used to approve upward adjustments to expired and cancelled appropriations?
    b. Obligation Adjustment Reporting System (OARS).
  20. What is the next step after an Automated Business Services System (ABSS) user selects the form type?
    d. Add the administrative data.
  21. Who is the final financial individual in the Automated Business Services System (ABSS) routing process?
    b. The certifying official.
  22. What are the steps of processing a document in the Automated Business Services System (ABSS)?
    a. Approver; resource advisor; certifying official.
  23. Who appoints the certifying official in writing?
    d. Comptroller.
  24. Who is held pecuniary liable for erroneous payments?
    b. Certifying official.
  25. What type of codes will allow instant input of financial transactions?
    c. Override.
  26. What need should be met when commitments for annual appropriations are incurred?
    d. A bona fide need for goods or services in the fiscal year the funds are issued for.
  27. Which commitment document is used to designate the accounting classification for charges by the cardholders within the various organizations on base?
    c. AF Form 4009.
  28. When adding commitment documents in the Automated Business Services System (ABSS) and you want to add the unit of issue and quantity you can click on the
    a. Line Items button.
  29. What document would you use for construction projects exceeding $100,000?
    b. SF 1442.
  30. Who determines the category for a Military Interdepartmental Purchase Request (MIPR)?
    d. Performnig activity.
  31. With a direct cite category II Military Interdepartmental Purchase Request (MIPR), who funds the cost for material or services provided?
    a. Requesting activity.
  32. Who authorizes and approves the AF Form 150 for do-it-yourself (DITY) moves?
    a. Housing Management Officer.
  33. What document is considered evidence of financial liability?
    b. Receiving report.
  34. A receiving report represents what stage of accounting?
    a. AEU
  35. What form is used to provide the vendor an opportunity to release the government from any obligation?
    c. AF Form 821
  36. The Prompt Payment Act (PPA) requires federal agencies to make payments on time, if payments are late what should be done?
    b. Pay interest penalties.
  37. Cash management is a part of the Prompt Payment Act (PPA); what is a function of cash management?
    b. Electronic funds transfer.
  38. Although you must make payments within prescribed terms, payments must also be paid within what window?
    b. 7 day window.
  39. When validating a Miscellaneous Obligation Reimbursement Document (MORD) from a funding activity, what do you do after you review the data for validity and accuracy?
    b. Check the description block.
  40. Should a resource advisor (RA) fail to submit supporting documentation to support a Miscellaneous Obligation Reimbursement Document (MORD) what step to you take?
    c. Request DFAS process reversal of MORD greater than 90 days.
  41. When using the Government Purchase Card (GPC), what is the first step you take after you’ve made a purchase?
    d. Update Access Online with each purchased.
  42. Which is the file created for the Tri-Annual Review (TAR) at the start of each review, requires validation by the bases, and is due at the mid-point of the review?
    b. Base file.
  43. As a resource advisor (RA), if you accepted a Military Interdepartment Purchase Request (MIPR) as a Category 2, what actions do you take after you receive the obligation documents?
    b. Foward to the Financial Management Analysis (FMA).
  44. Which general accounting and finance system listing identifies all open document summary records in the BQ system?
    a. ODL.
  45. When travelers do not file their travel vouchers in time, the order they traveled on will show up as outstanding on what report?
    c. GOO.
  46. What form is prepared after a vendor sends in a check for an overpayment?
    a. DD Form 1131.
  47. What two forms are commonly used for collections after customers send in their payment to the Defense Finance and Accounting Service (DFAS)?
    b. DD Form 1131 and SF 1080.
  48. What must be included in the collection voucher, Department of Defense (DD) Form 1131?
    d. Complete accounting classification being credited.
  49. If the US Treasury determines that collection is not possible when working delinquent accounts receivable, what does the debt collection do?
    b. Process a write-off.
  50. Financial accounting is concerned with
    a. external reporting to parties outside the company.
  51. The left side of the "T" account is used to record
    c. debits.
  52. What is used to ensure that debits equal credits?
    b. Trial balance.
  53. Budgetary accounts, control and properly manage budget authority provided and apply primarily to
    b. the legal requirements.
  54. The proprietary accounting equation includes all of the following except
    c. debits.
  55. If you are looking for information on the location you are deploying to which option would you choose from the four offered on the main page of the Combat Comptroller Community of Practice (CoP) website?
    b. Pre-deployment.
  56. Which section of the Combat Comptroller Community of Practice (CoP) contains unique and unusual situations as well as identified problems and proposed solutions?
    c. Post-deployment.
  57. Which section of the Combat Comptroller Community of Practice (CoP) includes great information on the Air and Space Expeditionary Force Unit Type Code Reporting Tool (ART) to include the checklist to assess unit type code (UTC) personnel?
    d. UDM/Warplanner.
  58. If you are looking to understand the overall picture of contingencies specifically our Financial Management (FM) wartime requirements you would search in what section of the Combat Comptroller Community of Practice (CoP) website?
    d. UDM/War Planner.
  59. What system is used as an internal management tool by the Chairman of the Joint Chiefs of Staff (CJCS) to access effectiveness meeting responsibilities to organize, train, and equip forces for combatant commanders?
    b. Status of Resources and Training System (SORTS).
  60. Comptroller actions supporting a Joint Strategic Capabilities Plan (JSCP) and non-JSCP contingency operations are similar. The major difference between them is that the
    d. comptroller personnel may not be required to be physically present at deployment locations to provide financial support under a non-JSCP contingency operation.
  61. What rates are normally used in preparing the budget submission?
    b. Budget.
  62. What account is used to charge losses or credit gains between amounts obligated, at specified budget rates, in the basic appropriation and the amount disbursed at the current rate of exchange for designated foreign currencies?
    a. Centrally Managed Allotment (CMA) account.
  63. Step 2 of using foreign currency has you
    a. determine the type of funds.
  64. Which step in using foreign currency has you determine the impact the budget and foreign currency rate will have on programs?
    d. Step 4.
  65. An Air Force Form 616, Fund Cite Authorization, may be used to purchase
    b. vehicle rentals in support of a contingency.
  66. When posting obligations in the General Accounting and Finance System (GAFS) the first step is to
    a. get the commitment document summary record (DSR)?
  67. Vouchers are assembled after
    c. all computations have been made.
  68. Which is not something the certifying official should check on a voucher before certifying it?
    d. Receiving report is attached and dictates the payment amount authorized.
  69. If BQ (Accounting and Finance System) is not available at a deployed location, then what form is issued to authorize use of funds?
    b. AF Form 616.
  70. What is the third step in updating the AF Form 616 when commitment documents are received?
    c. Calculate the new available balance by reducing the commitment amount by the amount of the newly posted commitment.
  71. When presenting a status of funds briefing, what information do you show for each unit’s expenditures?
    a. Major categories.
  72. What is (International Treasury Service)?
    d. A system used for processing international direct deposit payments.
  73. Which is not a benefit of (International Treasury Service)?
    a. Increases the ability to process national electronic payments in emerging markets.
  74. Acquisitions Cross Service Agreement (ACSA) agreements document
    c. legal authority to buy, sell, give, or loan support to another country.
  75. The Acquisitions Cross Service Agreement (ACSA) program allows logistical support with coordination from what three areas?
    b. Finance, Logistics, Legal.
  76. What is of top priority should you receive a joint tasking?
    a. Setting you up for success.
  77. Which category contains the financial publication that contains specific guidance regarding early resource manager involvement in planning to ensure mission success?
    a. 1–0: Personnel Series.
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Finance CDC's Vol. 2 Book 1

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