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ACQ 101 Module 7 & Exam: Financial Management
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ACQ 101 Module 7 & Exam: Financial Management
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ACQ 101 Module 7 & Exam:Financial Management
Select the term that best fits the following definition: "An administrative
reservation of funds by the local comptroller, in anticipation of a future
obligation." - -*Commitment*
-Which of the following is a Life Cycle Cost Category? - -*Research and
Development*
-Generally, the Engineering cost technique method would be used early in
the life of the program during the TMRR Phase when you do not have in-
depth information about the system you are designing. - -*False*
-Which of the following appropriations categories provides funds for
programs that have been approved for production? - -*Procurement*
-The full funding policy governs the Procurement and MILCON appropriations
categories. - -*True*
-The primary product of the Planning phase is the National Defense Strategy
(NDS), which provides the priorities and objectives for the service program
request. - -*False*
-The primary products of the Programming phase are the Program
Objectives Memorandum (POM) and the Program Decision Memoranda
(PDM). - -*True*
-Which of the following is a product of the Budgeting phase? - -*All answers
are correct*
-The purpose of the Execution review is to make assessments of current and
previous resource allocations to determine if the planned performance goals
were met. - -*True*
-The Budget Authority is provided by which of the following? - -
*Appropriations Bill*
-After the budget authority has passed its obligation period, it goes into the
"Expired Account" for a period of 10 years and cannot be used for new
obligations. - -*False*
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