Accounting Principles And Contingency Pretest #2

The triannual review refers to a review that is conducted three times a year. Therefore, the correct answer is 3.

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.

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.

The data element code "RC/CC" identifies who is making the purchase.

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.

The data element code "EEIC" identifies what is being purchased.

IAPS is the system used to provide automatic processing of accounts payable.

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.

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.

The correct answer is TQ.

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.

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.

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.

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.

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In the stage of disbursment accounting, the liability on behalf of the government is present in the AEU stage.

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.

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.

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.

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.

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.

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.

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).

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.

Invoices are mailed directly to the field site.

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.

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.

The correct answer is AFI 10-403. This regulation governs Deployment Planning and Execution.

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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.

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.

The interfaces that interface with IAPS are GAFS, SBSS, and CDS.