CDFM Exam 3 LATEST ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

Who are determined to be accountable individuals for the DoD? - CORRECT ANSWER Certifying & Disbursing Officers & DAOs What are the two types of trust revolving funds? - CORRECT ANSWER Intragovernmental & Public Enterprises Is there a substantive difference between a trust fund and a special fund? - CORRECT ANSWER No What is an example of a trust fund? - CORRECT ANSWER Foreign Military Sales What are the four categories of appropriations? - CORRECT ANSWER Annual Multi-year No-Year Permanent (Indefinite) What are permanent (indefinite) appropriations? - CORRECT ANSWER Funds covered by basic laws that allow the Secretary of the Treasury to pay without furtherenactment by Congress (e.g., interest on debt, federal retirement, social security, judgement fund, etc.) Does the Bona Fide Need rule apply to no-year funds? - CORRECT ANSWER No Does a bill from a contractor = an obligation? - CORRECT ANSWER No What are the two primary types of obligating documents? - CORRECT ANSWER MIPR & Contract When can a refund be treated as a reduction of the payment? - CORRECT ANSWER When the refund is collected in the same fiscal year the obligation was made What is another word for the measure of government spending? - CORRECT ANSWER Outlays In the US Standard General Ledger, what is the budgetary ledger account number? - CORRECT ANSWER 4000 Who maintains the general ledger? - CORRECT ANSWER DFAS What account in the general ledger is self-balancing? - CORRECT ANSWER 4000 (Budgetary) In budgetary accounting, what do resources equal? - CORRECT ANSWER Resources = Status of ResourcesIn proprietary accounting, what is the statement of net cost? - CORRECT ANSWER Actual Costs - Exchange Revenues = Net Operating Results In the USSGL, what is account 1010 - CORRECT ANSWER Fund Balance with Treasury In the USSGL, what is the "normal" balance of accounts ? ? - CORRECT ANSWER Debit, Credit