WMGT 101 Test 2 Question and answers rated A+ 2024/2025
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Course
WMGT
Institution
WMGT
WMGT 101 Test 2 Question and answers rated A+ 2024/2025 WMGT 101 Test 2
appropriation - correct answer do not represent cash actually set aside in the Treasury for purposes specified in the Appropriation Act. Only that the funds may be obligated during the specified period of time
Authoriza...
WMGT 101 Test 2
appropriation - correct answer ✔do not represent cash actually set aside in
the Treasury for purposes specified in the Appropriation Act. Only that the
funds may be obligated during the specified period of time
Authorization Act - correct answer ✔Law approved by congress and signed
by the president that
authorizes funding for military activities of the Department of Defense,
for military construction, for defense activities of the Department of
Energy, to prescribe military personnel strengths, and for other
purposes
Appropriations Act - correct answer ✔Law approved by Congress and signed
by the president that
provides the legal basis for withdrawing funds from the treasury
Continuing Resolution - correct answer ✔Continues appropriations at
previous FY levels; must be
signed by the president; restricts spending to 80% of previous FY
budget; No new starts
Appropriated Funds - correct answer ✔Represents amountsagencies may
obligateduring a
specified timeand during a specified purpose
2 Ops and support APF - correct answer ✔3400Operation & Maintenance
Appropriations (O&M)
∙ 3500Military Personnel (MILPERS)
Recall purpose, time,
and amount
restrictions placed
on APF - correct answer ✔Use money for the purposeintended by Congress
(using
3300 for MILCON or 3400 for O&M) "Color of money"
∙ Appropriation is available only for a certain time, after which
the authority to obligate expires—annual, multiyear, noyear;
Congress sets time limit; starts when president signs—DO NOT
obligate funds until distributed
∙ You cannot spend more moneythan Congress appropriates
for a given purpose;Cannot spend more moneythan apportioned;
Cannot spend money beforeapportioned; Congress may allow
considerable discretion within broad limits (e.g., 3400O&M);
Congress may allow no discretion (e.g., 3300MILCON)
Know the Bona Fide
Need Rule - correct answer ✔Agencies may only purchase an item when
,it is actually needed; The proper fiscal year funds must be used for
obligation and payment
Line of Accounting - correct answer ✔Predefined codes for who, what,
where, when, whyAKA "Fund Cite"
∙ Identifies things such as Branch of Service, Appropriation, Fiscal
Year, Command, Element of Expense Investment Code; Required on
every document involving an appropriated fund transaction; Also
referred to as "fund cite"
Recognize the
appropriation,
RC/CC, EEIC in a
line of accounting - correct answer ✔· 3rd #- Appropriation
· 7th #- Responsibility Center/Cost Center (RC/CC) - e.g. 3A4451
Structures
· 9th #- Element of Expense Investment Code (EEIC) - e.g. 40901 Travel
commitment - correct answer ✔"Intent to spend" Administrative reservation
of funds; not legally binding;
"Still vulnerable"
obligation - correct answer ✔Contract is awarded; contractor obligates funds;
legally binding "no longer
, vulnerable"
Describe the life
cycle of an
appropriation - correct answer ✔∙ Current Year Funds(active status)
Available for incurring
obligations; Also known as active funds; An appropriation expires at
the end of its period of availability; Execute new obligations by 30 Sep
of that year
∙ Expired Funds No longer available for new obligations; Stay in
"expired" status for 5 years; Retain fiscal year and appropriation
integrity; Cannot use expired funds for changes adding scope to the
contract
∙ Canceled Funds Not available for expenditure or obligation;
Funds are canceled after the active and expired periods have ended;
Obligations or expenditures identified after funds have canceled are
chargeable to current appropriations
PPBE Process - correct answer ✔∙ Articulates Strategy
∙ Identifies size, structure and equipment for Military Forces
∙ Sets programming Priorities
∙ Allocates Resources
∙ Evaluates actual Output against planned Performance and adjusts resources
as
appropriate strategy
questions asked in
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