OD BOLC PROPERTY ACCOUNTABILITY EXAM | COMPLETE SOLUTIONS | RATED | 5 STARES RATED| 2024
[Accountability & Responsibility, pg 2]
_______ is the obligation of a person to keep records of property, documents, or funds. These records show identification data, gains, losses, due-ins, due-...
_______ is the obligation of a person to keep records of property, documents, or funds.
These records show identification data, gains, losses, due-ins, due-outs, and balances
on hand or in use. - Accountibility
[Accountability & Responsibility, pg 2]
An accountable officer is officially appointed in _______, by proper authority, to maintain
an item and/or financial records of Government property, irrespective of whether the
property is in their possession for use or storage, or is in the possession of others to
whom it has been officially entrusted for use or for care and safekeeping. - Writing
[Accountability & Responsibility, pg 2]
What are the three types of supply accountable officers? - - Transportation Officer.
- Stock Record Officer.
- Property Book Officer.
[Accountability & Responsibility, pg 2]
Who may be appointed as an accountable officer? - - Any DoD commissioned officer or
warrant officer. (ARNG officers must be FEDREC).
- A DoD civilian employee.
- A DoD enlisted personnel, E-5 or above.
- An ARNG military technician.
[Accountability & Responsibility, pg 2]
________ is the obligation of an individual to ensure Government property and funds
entrusted to his or her possession, command, or supervision are properly used or cared
for, and that proper custody, safekeeping, and disposition are provided. - Responsibility
, [Accountability & Responsibility, pg 2-3]
What are the five different types of responsibility? - - Command responsibility.
- Supervisory responsibility.
- Direct responsibility.
- Custodial responsibility.
- Personal responsibility.
[Accounting for Army Property, pg 4]
Property is categorized for financial accounting and reporting purposes as __(1)__ or
__(2)__.
__(1)__ consists of land and structures.
__(2)__ is made up of capital equipment and other nonexpendable supplies ,
collectively called nonconsumable supplies, and all consumable supplies. - (1) - Real
property.
(2) - Personal property.
[Accounting for Army Property]
Listed in the Army Master Data File; used to identify the accounting requirement. -
Accounting Requirement Code (ARC)
[Accounting for Army Property, pg 4]
All Army property, except real property, will be classified for property accounting
purposes as _______, _______, or _______. - - Expendable.
- Durable.
- Nonexpendable.
[Accounting for Army Property, pg 4]
Items that require formal property book accounting at the user level will be classified as
what? - Nonexpendable (ARC = N)
[Accounting for Army Property, pg 4]
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Mboffin. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
