CDFM Exam 3

CDFM Exam 3 Who are determined to be accountable individuals for the DoD? - ✔✔Certifying & Disbursing Officers & DAOs If a contracting officer signs a contract in advance of an appropriation, what type of violation has occurred? - ✔✔ADA What are the 4 major functions in DoD Finance? - ✔✔Entitlements, Payments, Collections, Control of Public Funds What 3 primary types of officials are accountable individuals in the DoD? - ✔✔Certifying & Disbursing Officers & DAOs When collecting debts owed by vendors that have failed to properly respond to demand letters, what is the next step? - ✔✔Do not pay list If a civilian employee receives less than 90% of his/her pay and allowances, what may he/she request? - ✔✔Special Pay When a civilian employee PCSs from OCONUS to CONUS, who pays? - ✔✔OCONUS Activity How often does the disbursing officer need to inspect and document office security measures? - ✔✔Semi-annually What are the two self-balancing sets of accounts in the USGSGL? - ✔✔Budgetary and Proprietary In proprietary accounting, assets equal liabilities plus what? - ✔✔Net position The aggregate amount of an entity's funds in the Treasury is in what account? - ✔✔Fund Balance with Treasury PP&E defines tangible assets with an estimated useful life of more than what number of years? - ✔✔2 Which three federal agencies established the FASAB? - ✔✔GAO, Treasury & OMB What is the Federal law that specifically required existing CFO agencies to have financial statements that successfully pass a financial audit? - ✔✔The Government Management Reform Act of 1994 In which of the four waves of the FIAR process would a DoD entity expect to have an auditable statement of budgetary resources? - ✔✔Wave 2 Government audits provide essential elements