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CDFM, Module 1.4 Management's Responsibility for Internal Control questions with verified answers

________ are funds that conduct business-type operations primarily between government agencies. The budget records the collections and outlays in the same account. Ans Intra-Governmental Funds ________ are the recovery of excess payments and are credited to _________. Ans Refunds; the appropriation that made the payment ________ is a technique that allocates the cost of an item as an operating expense over the period for which the asset is expected to provide benefits. Ans Depreciating ...

CDFM Module 2 questions with verified answers

CDFM All Modules FISCAL LAW questions with verified answers.

An employee may have e potential conflict of interest and may choose not to participate. What is that process called? Ans Recusal Authorized Strength means what? Ans The total strength authorized by Congress. Authorized strength may be used synonymously with documented strength. Define a Capability Based Former Employee Volunteer Corps Ans Group of former DoD civilian employees who have agreed to be listed in a database as individuals who may be interested in returning to Federal Service. ...

"Notice of Termination" Ans Given by the government to a contractor when a contractor agreement, in whole or in part, has been terminated for the convenience of the government. The obligation recorded for the contract or agreement must be decreased to an amount sufficient to meet the settlement costs under the termination. The obligation must not be decreased below the amount estimated by the Contracting Officer, based on the best evidence then available to be the amount due as a result of...

CDFM Module 4 questions with verified answer1.

CDFM Module 1 questions with verified answers

CDFM Exam 1 Study Set questions with verified answers.

___ account for the receipt and expenditure of monies by the Government for carrying out specific purposes and programs with the terms of a statute that designates the fund as a ___, or for carrying out the stipulations of an agreement where the Nation is the beneficiary. Ans Trust funds ___ are ___ accounts in which the balances are no longer available for incurring new obligations because the time available for incurring such obligations has expired Ans Expired Appropriations / appropriatio...