Accounting Principles And Contingency Pretest #2
(123).webp "Accounting Principles And Contingency Pretest #2 - Quiz")
CDC 2010/11
- 1.
Accouting Classifications: What type of account does not use the third digit?
- A.
Trust
- B.
Receipt
- C.
Deposit
- D.
Special
Correct Answer
B. ReceiptExplanation
In accounting classifications, the type of account that does not use the third digit is "Receipt." The third digit in accounting classifications is typically used to further categorize accounts within a specific type. However, in the case of Receipt accounts, there is no need for further subcategorization, so the third digit is not used.Rate this question:
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- 2.
Which of the following is comprised of a two-digit alphanumeric code that is used to provide separate accounting and reporting costs incurred during an emergency or in support of a special program.
- A.
Budget program activity code
- B.
Budget project
- C.
Emergency and special program code
- D.
Budget sub-project
Correct Answer
C. Emergency and special program codeExplanation
The correct answer is "Emergency and special program code". This code is a two-digit alphanumeric code that is used to track and report costs incurred during an emergency or in support of a special program. It helps in separate accounting and reporting of these costs, allowing for better financial management and analysis.Rate this question:
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- 3.
Which best describes an administrative reservation of funds?
- A.
Obligation
- B.
Commitment
- C.
MORD
- D.
Reimbursment
Correct Answer
B. CommitmentExplanation
An administrative reservation of funds refers to the process of setting aside a portion of a budget for a specific purpose or project. It is a commitment made by an organization to allocate funds for a particular expense in the future. This ensures that the necessary funds are available and not spent on other activities. Therefore, "Commitment" best describes an administrative reservation of funds.Rate this question:
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- 4.
Which stage of disbursment accounting is their a liabilty on behalf of the government?
- A.
AEU
- B.
AEP
- C.
UOO
Correct Answer
A. AEUExplanation
In the stage of disbursment accounting, the liability on behalf of the government is present in the AEU stage.Rate this question:
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- 5.
After the goods or services are provided to the member, you decrease the UFO stage and increase the ___ stage.
- A.
FOC
- B.
FOU
- C.
UFO
- D.
FCO
Correct Answer
B. FOUExplanation
After the goods or services are provided to the member, you decrease the UFO stage and increase the FOU stage. The FOU stage refers to the stage of Fulfillment of Order, which means that the order has been successfully completed and the goods or services have been delivered to the member.Rate this question:
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- 6.
In which order to the summary records go (from LOWEST level to HIGHEST level)
- A.
CSR, FSR, PSR, DSR
- B.
DSR, FSR, PSR, CSR
- C.
CSR, PSR, FSR, DSR
- D.
DSR, PSR, FSR, CSR
Correct Answer
D. DSR, PSR, FSR, CSRExplanation
The correct answer is DSR, PSR, FSR, CSR. The summary records go in ascending order of levels, starting from the lowest level (DSR) and ending with the highest level (CSR).Rate this question:
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- 7.
Two basic principles of an Internal file are to allow control of funds issued to the base and ___.
- A.
Accumulate data for reporting purposes
- B.
Account for transactions in certain appropriations
- C.
Create document control
- D.
Create an address for tracking purposes
Correct Answer
A. Accumulate data for reporting purposesExplanation
The two basic principles of an Internal file are to allow control of funds issued to the base and accumulate data for reporting purposes. This means that the file is used to track and manage the funds allocated to the base, as well as to collect and store data that can be used for reporting and analysis. By accumulating data for reporting purposes, the file helps in monitoring the financial activities of the base and generating reports to provide insights and support decision-making.Rate this question:
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- 8.
Which data element code identifies who is making the purchase?
- A.
EEIC
- B.
RC/CC
- C.
Sales Code
- D.
PEC
Correct Answer
B. RC/CCExplanation
The data element code "RC/CC" identifies who is making the purchase.Rate this question:
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- 9.
Which data element code identifies what is being purchased?
- A.
EEIC
- B.
RC/CC
- C.
Sales code
- D.
PEC
Correct Answer
A. EEICExplanation
The data element code "EEIC" identifies what is being purchased.Rate this question:
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- 10.
What system provides reduces hard copy output and associated costs while improving the timeliness of obtaining financial reports and information?
- A.
OARS
- B.
DEAMS
- C.
EDA
- D.
OLRV
Correct Answer
D. OLRVExplanation
The OLRV system is the correct answer because it is designed to reduce hard copy output and associated costs while improving the timeliness of obtaining financial reports and information. This system likely digitizes financial reports and information, allowing for easier access and distribution, eliminating the need for printing and physical copies. By doing so, it can save costs related to printing and paper, while also providing faster access to financial information.Rate this question:
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- 11.
When are CSR's, FSR's, and PSR's normally established by accounting?
- A.
End of the fiscal year
- B.
Beginning of the fiscal year
- C.
Beginning of the calendar year
- D.
End of the calendar year
Correct Answer
B. Beginning of the fiscal yearExplanation
CSR's (Corporate Social Responsibility), FSR's (Financial Statement Review), and PSR's (Performance Summary Reports) are normally established by accounting at the beginning of the fiscal year. This is because the fiscal year is the period that a company uses for financial reporting and planning purposes. By establishing these reports at the start of the fiscal year, accounting can ensure that they accurately reflect the company's financial performance and social responsibility initiatives for the entire year.Rate this question:
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- 12.
Select all that apply: what are the basic records used in the record addressing system in GAFS?
- A.
CSR
- B.
FSR
- C.
PSR
- D.
DSR
Correct Answer(s)
A. CSR
B. FSR
C. PSR
D. DSRExplanation
The basic records used in the record addressing system in GAFS are CSR, FSR, PSR, and DSR. These records are essential for organizing and accessing data in the system. CSR stands for Customer Service Record, which contains information about the customer's interactions and transactions. FSR stands for Financial Service Record, which includes financial data such as account balances and transactions. PSR stands for Product Service Record, which stores information about the products and services offered. DSR stands for Data Service Record, which holds details about data management and storage. These records collectively form the foundation of the record addressing system in GAFS.Rate this question:
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- 13.
Which system is used to provide automatic processing of accounts payable?
- A.
MEDLOG
- B.
DEAMS
- C.
IAPS
- D.
GAFS
Correct Answer
C. IAPSExplanation
IAPS is the system used to provide automatic processing of accounts payable.Rate this question:
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- 14.
Check all that apply: Which of the following interface with IAPS:
- A.
GAFS
- B.
BARS
- C.
SBSS
- D.
CDS
- E.
DEAMS
Correct Answer(s)
A. GAFS
C. SBSS
D. CDSExplanation
The interfaces that interface with IAPS are GAFS, SBSS, and CDS.Rate this question:
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- 15.
What is the system code for IAPS?
- A.
BQ
- B.
TQ
- C.
IS
- D.
EQ
Correct Answer
B. TQExplanation
The correct answer is TQ.Rate this question:
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- 16.
Who appoints a certifying official?
- A.
Commander
- B.
FSO
- C.
Supervisor
- D.
DDO
Correct Answer
B. FSOExplanation
The FSO (Facility Security Officer) is responsible for appointing a certifying official. The certifying official is typically someone who has the authority to verify and sign documents related to security clearances or other security-related matters. This role is important in ensuring that proper protocols and procedures are followed in maintaining the security of a facility or organization.Rate this question:
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- 17.
Which of the following in not a commitment document?
- A.
DD Form 448
- B.
AF Form 9
- C.
SF 1449
- D.
AF Form 4009
Correct Answer
C. SF 1449Explanation
The SF 1449 is a standard form used for soliciting and/or submitting offers for contracts. It is not a commitment document because it is used in the early stages of the procurement process to gather and evaluate offers, but it does not represent a final commitment or agreement. On the other hand, the DD Form 448, AF Form 9, and AF Form 4009 are all commitment documents used in various contexts within the military and government.Rate this question:
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- 18.
Before an SF44 can be issued to a vendor what must take place?
- A.
Must be signed
- B.
Must be certified
- C.
Commitment must be decreased
- D.
Purchase must be made
Correct Answer
B. Must be certifiedExplanation
Before an SF44 can be issued to a vendor, it must be certified. This means that the necessary documentation and requirements have been reviewed and approved by the appropriate authorities. Certification ensures that the vendor has met the necessary standards and qualifications to receive the SF44, which is a form used for purchasing goods or services. Without certification, the SF44 cannot be issued to the vendor.Rate this question:
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- 19.
An AF form 185 is a:
- A.
Acceptance of MIPR
- B.
Purchase order
- C.
Project order
- D.
Fund cite authorization
Correct Answer
C. Project orderExplanation
An AF form 185 is a project order. This form is used by the Air Force to initiate and authorize specific projects or tasks within a larger program. It provides detailed information about the project, including the scope, objectives, timeline, and resource requirements. The form is typically used to ensure proper planning and coordination of projects within the Air Force, and to track progress and expenditures.Rate this question:
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- 20.
(Contingency) Where are invoices mailed to?
- A.
Directly to the disbursing office
- B.
Directly to DFAS
- C.
Directly to the host base
- D.
Directly to the field site
Correct Answer
D. Directly to the field siteExplanation
Invoices are mailed directly to the field site.Rate this question:
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- 21.
A SF 1449 is most commonly used for construction projects exceeding $100,000.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because SF 1449 is not specifically used for construction projects exceeding $100,000. SF 1449 is a standard form used for procurement of goods and services by federal agencies, including construction projects. The dollar threshold for using SF 1449 may vary depending on the specific agency and project requirements.Rate this question:
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- 22.
the triannual review is accomplished at least how many times a year?
- A.
1
- B.
2
- C.
3
Correct Answer
C. 3Explanation
The triannual review refers to a review that is conducted three times a year. Therefore, the correct answer is 3.Rate this question:
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- 23.
Which is considered a "reimbursable" MIPR?
- A.
Category 1
- B.
Category 2
- C.
Category 3
- D.
Direct Citation
Correct Answer
A. Category 1Explanation
A "reimbursable" MIPR refers to a Category 1 MIPR. This means that the MIPR falls under Category 1, which is considered to be reimbursable. It implies that the expenses mentioned in the MIPR can be reimbursed by the receiving entity.Rate this question:
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- 24.
Which of the following is not a transfer voucher
- A.
SF 1081
- B.
OF 1017-G
- C.
DD 1131
Correct Answer
C. DD 1131Explanation
The SF 1081 and OF 1017-G are both transfer vouchers used in the federal government for transferring funds between agencies. However, the DD 1131 is not a transfer voucher. It is actually a cash collection voucher used for recording cash collections made by the Department of Defense.Rate this question:
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- 25.
how long does a unit have to turn in a DLR item controlled by a DIFM detail?
- A.
30 days
- B.
60 days
- C.
10 days
- D.
14 days
Correct Answer
B. 60 daysExplanation
A unit has 60 days to turn in a DLR item controlled by a DIFM detail. This means that the unit has two months to return the item.Rate this question:
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- 26.
What EEIC would flying hour consumable supplies be in?
- A.
409
- B.
609
- C.
406
- D.
906
Correct Answer
B. 609 -
- 27.
What is the flying hour consumable expendable dollar limitation?
- A.
Less than 100,000
- B.
Less than 50,000
- C.
Less than 10,000
- D.
Less than 5,000
Correct Answer
A. Less than 100,000Explanation
The flying hour consumable expendable dollar limitation refers to the maximum amount of money that can be spent on consumable and expendable items during a certain period of flying hours. The correct answer, "less than 100,000," suggests that the dollar limitation is set at a value below 100,000 dollars. This means that the expenditure on consumable and expendable items must be kept within this limit to maintain cost control and efficiency.Rate this question:
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- 28.
Who has the primary responsibility for billing and collecting recievables due?
- A.
The organization that ordered the services
- B.
The organization that provided the services of goods
- C.
The billing agency
- D.
The collecting agency
Correct Answer
B. The organization that provided the services of goodsExplanation
The organization that provided the services or goods has the primary responsibility for billing and collecting receivables due. This is because they are the ones who provided the services or goods and are therefore responsible for invoicing and collecting payment from the customer. The organization that ordered the services or the billing and collecting agencies may be involved in the process, but the primary responsibility lies with the organization that provided the services or goods.Rate this question:
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- 29.
How often are trial balances run?
- A.
Daily
- B.
Monthly
- C.
Annually
- D.
Bi-annually
Correct Answer
B. MonthlyExplanation
Trial balances are run on a monthly basis to ensure the accuracy of financial records and to identify any discrepancies or errors. Monthly trial balances allow businesses to reconcile their accounts, compare debits and credits, and verify that the financial statements are balanced. This regular review helps in detecting and correcting any mistakes or inconsistencies before the preparation of financial reports. Additionally, monthly trial balances provide a snapshot of the company's financial position at the end of each month, facilitating decision-making and financial analysis.Rate this question:
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- 30.
What regulation governs Comptroller Operations Under Emergency Conditions?
- A.
Afi 65-105
- B.
Afi 10-403
- C.
Afi 10-213
- D.
Afi 65-110
Correct Answer
C. Afi 10-213 -
- 31.
What regulation governs Deployment Planning and Execution?
- A.
Afi 65-105
- B.
Afi 10-403
- C.
Afi 10-213
- D.
Afi 65-110
Correct Answer
B. Afi 10-403Explanation
The correct answer is AFI 10-403. This regulation governs Deployment Planning and Execution.Rate this question:
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- 32.
Check all that apply: what items may be purchased using AF 315?
- A.
Supplies and services in direct support of aircraft
- B.
Items or services required for immediate use of maintaining communicatoins
- C.
Civilian Guards to protect an aircraft
- D.
Mechanical services
- E.
Guards for a forced landing site
Correct Answer(s)
A. Supplies and services in direct support of aircraft
B. Items or services required for immediate use of maintaining communicatoins
C. Civilian Guards to protect an aircraft
D. Mechanical services
E. Guards for a forced landing siteExplanation
AF 315 can be used to purchase supplies and services that directly support aircraft, such as maintenance equipment or spare parts. It can also be used to purchase items or services that are immediately needed for maintaining communications. Additionally, AF 315 can be used to hire civilian guards to protect an aircraft, avail mechanical services, and hire guards for a forced landing site.Rate this question:
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Mar 14, 2024Quiz Edited by
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Aug 02, 2011Quiz Created by
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