Pretest Vol 1. Accounting Principles And Contingency

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1. What listing identifies all open document summary records?

Explanation

The correct answer is ODL. ODL stands for Open Document Listing, which is a type of document summary record. It is used to identify all open document summary records, providing a list of the documents that are currently open or in progress. The other options (DAL, DASL, and AL) do not specifically refer to open document summary records.

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Pretest Vol 1. Accounting Principles And Contingency - Quiz

Pretest Vol 1: Accounting Principles and Contingency assesses knowledge on accounting processes at base level, use of accounts receivable sales codes, fund reservation practices, and systems replaced by... see moreDEAMS. It's essential for learners in government accounting roles. see less

2. What position in the delpoyed environment does PCC get used?

Explanation

PCC (Point of Sale Cashier) is used in the deployed environment at the cashier position. This suggests that PCC is a system or software used by cashiers to process transactions and handle payments at a point of sale.

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3. Which office handles most of the accounting processes at base level?

Explanation

The FMA (Financial Management and Comptroller) office handles most of the accounting processes at the base level. This office is responsible for managing financial resources, budgeting, and providing financial support to various departments and units within the organization. They ensure accurate and timely processing of financial transactions, maintain financial records, and provide financial reports and analysis to support decision-making. The FMA office plays a crucial role in maintaining financial accountability and transparency within the organization.

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4. SMAS: The program that produces the trial balance is programmed to detect certain types of errors in the report. when these errors are detected, they cause management notices to be printed in the ____ column.

Explanation

The program that produces the trial balance is designed to identify specific errors in the report. When these errors are detected, management notices are generated and printed in the "Remarks" column. This allows management to easily identify and address any issues or discrepancies in the trial balance.

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5. What is the two digit alpha code assigned to GAFS?

Explanation

The two-digit alpha code assigned to GAFS is BQ.

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6. What action code is used for establishing an FSR?

Explanation

The action code NF is used for establishing an FSR.

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7. What is an administrative reservation of funds?

Explanation

An administrative reservation of funds refers to a commitment made by an organization to set aside a specific amount of money for a particular purpose or project. It is a formal agreement to allocate funds and ensures that the funds are not used for any other purpose. This commitment helps in budget planning and ensures that the necessary funds are available when needed.

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8. What sevice is used to make EFT payments to foreign vendors in US dollars/foreign currency.

Explanation

ITS.gov is the correct answer because it is a government website that provides services related to financial management, including making electronic funds transfer (EFT) payments to foreign vendors in US dollars or foreign currency. This website is specifically designed for government agencies and departments to manage their financial transactions securely and efficiently.

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9. Who determines the PRICE PER COMMODITY to distribute funding to each base?

Explanation

MAJCOM, which stands for Major Command, determines the price per commodity to distribute funding to each base. Major Commands are responsible for overseeing specific functional areas within the military, and they have the authority to allocate funds and resources to different bases under their command. Therefore, it is the responsibility of the MAJCOM to determine the price per commodity in order to distribute funding appropriately.

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10. What regulation governs limited wartime contingency operations for comptroller plans.

Explanation

AFI 10-213 is the correct answer because it specifically governs limited wartime contingency operations for comptroller plans. This regulation provides guidance and procedures for financial management during wartime, including budgeting, funding, and accounting for limited contingency operations. It ensures that comptroller plans are in place and followed during these operations to effectively manage financial resources.

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11. How is the accounts receivable sales code used?

Explanation

The accounts receivable sales code is used to identify the customer. This code helps in keeping track of which customers have made purchases and allows for easy identification and organization of sales transactions. It is an important tool for businesses to maintain accurate records and ensure efficient management of their accounts receivable.

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12. Accounts Recievable: how long does the customer have to make a payment prior to becoming delinquent?

Explanation

The correct answer is 30 days. Accounts Receivable refers to the amount of money that customers owe to a business for goods or services provided on credit. The question is asking about the time period within which a customer is expected to make a payment before it is considered delinquent. In this case, the customer has 30 days to make the payment before it is considered overdue or delinquent.

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13. What is the "normal" timeframe a contingency operation must be projected to last, that indicates comptroller personel will be present during the intial deploying force?

Explanation

Contingency operations are military operations that are planned and executed in response to an unforeseen event or crisis. In such operations, comptroller personnel are responsible for managing financial resources. The "normal" timeframe for a contingency operation is typically projected to last 30 days. Therefore, comptroller personnel are expected to be present during the initial deploying force for a period of 31 days.

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14. What regulation governs planning procedures that must be adhered to during contingency

Explanation

AFI 10-403 is the correct answer because it is the regulation that governs planning procedures that must be adhered to during contingency. This regulation provides guidance and requirements for planning and executing contingency operations, including the development of contingency plans, coordination with other agencies, and the establishment of command and control structures. It ensures that military personnel and resources are properly prepared and organized to respond effectively to contingencies.

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15. SELECT ALL THAT APPLY: Which of the following systems will be replaced by DEAMS?

Explanation

DEAMS will replace the GAFS, IAPS, ABSS, and BARS systems. This means that these systems will no longer be used once DEAMS is implemented.

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16. How is a payment made if the original invoice is lost or destroyed?

Explanation

If the original invoice is lost or destroyed, the payment can still be made using an unsigned memorandum copy of the invoice. This copy serves as a substitute for the original invoice and allows for the payment to be processed without further delay or complications.

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17. What regulation governs official representation funds?

Explanation

AFI 65-603 is the correct answer because it specifically governs official representation funds. The other options, AFI 65-601, AFI 65-602, and AFI 65-604, do not pertain to official representation funds and therefore are not the correct regulations.

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18. At the end of each month, financial analysis retrieves all flying hour fuel AVFUEL expenditures from what EEIC?

Explanation

At the end of each month, financial analysis retrieves all flying hour fuel AVFUEL expenditures from the EEIC 699.

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What listing identifies all open document summary records?
What position in the delpoyed environment does PCC get used?
Which office handles most of the accounting processes at base level?
SMAS: The program that produces the trial balance is programmed to...
What is the two digit alpha code assigned to GAFS?
What action code is used for establishing an FSR?
What is an administrative reservation of funds?
What sevice is used to make EFT payments to foreign vendors in US...
Who determines the PRICE PER COMMODITY to distribute funding to each...
What regulation governs limited wartime contingency operations for...
How is the accounts receivable sales code used?
Accounts Recievable: how long does the customer have to make a payment...
What is the "normal"...
What regulation governs planning procedures that must be adhered to...
SELECT ALL THAT APPLY:...
How is a payment made if the original invoice is lost or destroyed?
What regulation governs official representation funds?
At the end of each month, financial analysis retrieves all flying hour...
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