Accounting misc unit 1 - Study guides, Class notes & Summaries

What are the three tests that must be met for use of the Necessary Expense doctrine? - Answer Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - Answer The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources remains available for new obligations for more than one fiscal year? - Answer Multi-...

A line chart is called what? - ANSWER Frequency Polygon What acquisition process category(s) has an independent cost estimate performed (by CAPE, in OSD) and prepared to check the accuracy and objectivity of the estimate? - ANSWER ACAT 1 & ID PPBE Planning Phase provides information to who? - ANSWER SECDEF What are the 3 Quantifiable Benefits? - ANSWER (1) Cost Savings (2) Cost Avoidance (3) Productivity Improvement Who/Where are Integrated Priority Lists submitted to? - ANSWER (...

CPCP - ANSWER-Certified Purchasing Card Professional PCPCC - ANSWER-Purchasing Card Professional Certification Council grants CPCP designation NAPCP - ANSWER-National Association of Purchasing Card Professional grants CPCP designation in conjunction with PCPCC Have exclusive and sole property of CPCP credential initials CPCP Code of Ethics - ANSWER-1. Maintain integrity of the CPCP exam 2. Comply with the law in all activities related to P-Card Program, Influence workplace practi...

Does home improvement include work done on an individual condominium unit? - correct answer Yes Does home improvement include work done on a swimming pool? - correct answer Yes Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? - correct answer Yes A county or municipality in Maryland _____________ require a contractor to get authorization from an official in that city to be able to contract in that municipality. - correct answer Cannot A co...

Abandonment - Answers The failure to occupy and use property that may result in loss of rights Abatement of Nuisance - Answers Extinction or termination of a nuisance Abstract of Judgement - Answers A condensation of the essential provisions of a court judgement Abstract of Title - Answers A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record wh...

GFEBS SPENDING CHAIN: PURCHASE REQUISITIONS Questions and Answers (2022/2023) (Verified Answers) Purchase Requisition Processor •Serves as the PR initiator, receiving and validating requirements and entering the PR. •The Purchase Requisition Processor also makes changes and corrections to PRs as required. •They coordinate with the Purchase Requisition Interface Processing Monitor in the event of interface errors. Purchase Requisition Interface Processing Monitor Validates inbou...

FEDERAL APPROPRIATIONS LAW CAN BE CATEGORIZED INTO WHICH 3 AREAS - ANSWER PURPOSE TIME AMOUNT IN DOD FINAL DECISIONS ON FISCAL LAW QUESTIONS ARE OFFICIALLY RENDERED BY - ANSWER DOD GENERAL COUNSEL, COURTS BASIC TYPES OF BUDGET AUTHORITY USED IN FEDERAL GOVT - ANSWER APPROPRIATIONS, CONTRACT AUTHORITY, BORROWING AUTHORITY, MONETARY CREDITS, OFFSETTING COLLECTIONS AND RECEIPTS, LOAN AND LOAN GUARANTEE AUTHORITY ANNUAL APPROPRIATIONS REMAIN AVAILABLE FOR NEW OBLIGATIONS FOR - ANSWER NEW OB...

FEDERAL APPROPRIATIONS LAW CAN BE CATEGORIZED INTO WHICH 3 AREAS - ANSWER PURPOSE TIME AMOUNT IN DOD FINAL DECISIONS ON FISCAL LAW QUESTIONS ARE OFFICIALLY RENDERED BY - ANSWER DOD GENERAL COUNSEL, COURTS BASIC TYPES OF BUDGET AUTHORITY USED IN FEDERAL GOVT - ANSWER APPROPRIATIONS, CONTRACT AUTHORITY, BORROWING AUTHORITY, MONETARY CREDITS, OFFSETTING COLLECTIONS AND RECEIPTS, LOAN AND LOAN GUARANTEE AUTHORITY ANNUAL APPROPRIATIONS REMAIN AVAILABLE FOR NEW OBLIGATIONS FOR - ANSWER NEW OB...

1: (19) Applicable Guidance 1- According to The IIA’s International Professional Practices Framework, which of the following constitute mandatory guidance for implementing the Standards? A. Development Aids. B. Performance Standards. C. Practice Aids. D. Implementation Guides. Answer (A) is incorrect. Development Aids are not part of the IPPF. Answer (B) is correct. The mandatory guidance portion of the IPPF consists of the Core Principles, Definition of Internal Auditing, the Code ...

Purchase Requisition Processor -ANSWER •Serves as the PR initiator, receiving and validating requirements and entering the PR. •The Purchase Requisition Processor also makes changes and corrections to PRs as required. •They coordinate with the Purchase Requisition Interface Processing Monitor in the event of interface errors. Purchase Requisition Interface Processing Monitor -ANSWER Validates inbound and outbound interfaces between GFEBS and partner systems and resolves issues as ...