Quiz: Accounting Principles And Contingency Operations

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Quiz: Accounting Principles And Contingency Operations

AF FM SKY study questions.


Questions and Answers
  • 1. 
    What is the major difference between the responsibilities of the Financial Management Analysis and the Defense Finance and Accounting Service?
    • A. 

      DFAS handles the accounting processes at base level

    • B. 

      Structure within each field site is mostly standardized, but may vary at some locations

    • C. 

      DFAS was activated to reduce costs and improve the overall quality of DOD financial management

    • D. 

      FMA handles the accounting processes at base level serves as liaison between the base organizations and the field site

  • 2. 
    Overall responsibility for obligation accounting is maintained by:
    • A. 

      Reports and analysis

    • B. 

      The acquisition division

    • C. 

      Accounting and Finance

    • D. 

      The security processing division

  • 3. 
    All accounting classifications must contain at least the accounting and disbursing station number and the:
    • A. 

      ESP code

    • B. 

      Allotment code

    • C. 

      Budget activity code

    • D. 

      Appropriation symbol

  • 4. 
    Which funds are established to record collections for no year and clearing accounts?
    • A. 

      Trust

    • B. 

      Deposit

    • C. 

      General

    • D. 

      Revolving

  • 5. 
    Which code identifies the item being purchased?
    • A. 

      ESP

    • B. 

      EEIC

    • C. 

      Sales

    • D. 

      ADSN

  • 6. 
    The disbursement accounting process begins when:
    • A. 

      Goods are received

    • B. 

      Payment is received

    • C. 

      Payment is requested

    • D. 

      An item/service is requested

  • 7. 
    Before making a payment, the Resource Advisor verifies:
    • A. 

      Goods/services are received

    • B. 

      Receiving report is processed

    • C. 

      The invoice contains the proper data

    • D. 

      Good/services are received and receiving report is processed

  • 8. 
    After receiving utility estimates from CE, the field site enters the estimate into:
    • A. 

      GAFS as UFO

    • B. 

      GAFS as FOU

    • C. 

      SBSS as UFO

    • D. 

      SBSS as FOU

  • 9. 
    Which of the following is not an obligation stage?
    • A. 

      AEP

    • B. 

      COO

    • C. 

      UOO

    • D. 

      AEU

  • 10. 
    Which stage of accounting liquidates the obligation?
    • A. 

      AEP

    • B. 

      COO

    • C. 

      UOO

    • D. 

      AEU

  • 11. 
    What are the steps of processing a document in the Automated Business Services System?
    • A. 

      Approver; resource advisor; certifying official

    • B. 

      Resource advisor; approver; certifying official

    • C. 

      Certifying official; approver; resource advisor

    • D. 

      Certifying official; resource advisor; approver

  • 12. 
    Which system was designed to automate the accounts payable process?
    • A. 

      SPS

    • B. 

      GAFS

    • C. 

      IAPS

    • D. 

      ABSS

  • 13. 
    Which system is an FM initiative that will transform business and financial management processes and systems to provide accurate, reliable, and timely business information to support effective business decision making was designed to automate records of Air Force members who travel?
    • A. 

      RTS

    • B. 

      IAPS

    • C. 

      ORLV

    • D. 

      DEAMS

  • 14. 
    Who appoints the certifying official in writing?
    • A. 

      DO

    • B. 

      RA

    • C. 

      FSO

    • D. 

      DDO

  • 15. 
    Who shares pecuniary liability with the Financial Service Office (FSO)?
    • A. 

      RA

    • B. 

      Budget officer

    • C. 

      Certifying official

    • D. 

      Contracting officer

  • 16. 
    Which is not a step in the fund's certification process?
    • A. 

      Post MAFR

    • B. 

      Check the funds status

    • C. 

      Review for completeness and accuracy

    • D. 

      Verify the accuracy of accounting classification and fund cite

  • 17. 
    What type of codes will allow instant input of financial transactions?
    • A. 

      Input

    • B. 

      Reject

    • C. 

      Override

    • D. 

      Advance

  • 18. 
    Obligations against a multiple year appropriation can cover what timeframe?
    • A. 

      One year only

    • B. 

      Only three years

    • C. 

      Two through five years

    • D. 

      Two through seven years

  • 19. 
    An AF Form 616 is processed into the Integrated Accounts Payable System (IAPS) and a copy is retained to support what stage of accounting?
    • A. 

      Obligation

    • B. 

      Commitment

    • C. 

      Accrued expenditures paid

    • D. 

      Accrued expenditures unpaid

  • 20. 
    Which commitment document is used to designate the accounting classification for charges by the cardholders within the various organizations on base?
    • A. 

      AF Form 9

    • B. 

      AF Form 616

    • C. 

      AF Form 4009

    • D. 

      DD Form 448

  • 21. 
    After an ABSS user selects the form type, what is the next step?
    • A. 

      Add the line items

    • B. 

      Route the document

    • C. 

      Add the line of accounting

    • D. 

      Add the administrative data

  • 22. 
    What document is the most commonly used contracting document to procure supplies or services from local vendors?
    • A. 

      SF 1449

    • B. 

      SF 1034

    • C. 

      SF 1442

    • D. 

      DD Form 448-2

  • 23. 
    What document is used for construction projects exceeding $100,000?
    • A. 

      SF 1449

    • B. 

      SF 1034

    • C. 

      SF 1442

    • D. 

      DD Form 448-2

  • 24. 
    Who determines the category for a military interdepartmental purchase request?
    • A. 

      BCE

    • B. 

      OPLOC

    • C. 

      Requesting activity

    • D. 

      Performing activity

  • 25. 
    A receiving report represents what stage of accounting?
    • A. 

      AEU

    • B. 

      AEP

    • C. 

      UOO

    • D. 

      FCOC

  • 26. 
    What form is used to provide the vendor with an opportunity to release the government from any obligation?
    • A. 

      AF Form 616

    • B. 

      DD Form 819

    • C. 

      AF Form 821

    • D. 

      DD Form 1155

  • 27. 
    What action is taken if the vendor invoices for unauthorized charges, such as taxes or freight?
    • A. 

      Invoice is returned to the vendor

    • B. 

      Invoice is held until a corrected invoice is submitted

    • C. 

      Charges are paid and a refund from the vendor is requested

    • D. 

      Make the necessary adjustments to the invoice, and pay the reduced amount

  • 28. 
    The two primary reasons for interest penalty payments are:
    • A. 

      Original payment made late and invoice not received

    • B. 

      Invoices not received and receiving reports not received

    • C. 

      Original payment made late and discount taken erroneously

    • D. 

      Receiving reports not received and contract not established in BQ

  • 29. 
    Under guidelines outlined in the Prompt Payment Act of 1989, the date used to compute discounts is the date that the:
    • A. 

      Supplies were shipped

    • B. 

      Invoice was received

    • C. 

      Invoice was prepared

    • D. 

      Supplies were received

  • 30. 
    If a discount is taken erroneously, what actions should be taken?
    • A. 

      No action is needed

    • B. 

      Pay the difference immediately

    • C. 

      Wait for the vendor to invoice for the discount

    • D. 

      Pay the difference immediately with any accrued interest due

  • 31. 
    As obligation documents are received for a designated foreign currency, the funds are obligated using which rate?
    • A. 

      Budget

    • B. 

      Interest

    • C. 

      Discount

    • D. 

      Daily exchange

  • 32. 
    What form is used to process the obligation for local drayage transactions?
    • A. 

      AF Form 616

    • B. 

      AF Form 150

    • C. 

      DD form 250

    • D. 

      DD Form 150

  • 33. 
    Which is not a reason for conducting the Trin-Annual Review of Obligations?
    • A. 

      Amounts are valid

    • B. 

      Obligations are not dormant

    • C. 

      Liquidated obligations are recorded

    • D. 

      Amounts are in the proper stage of accounting

  • 34. 
    Which is not one of the files created by the Access 97 Tri-Annual Review program?
    • A. 

      90% file

    • B. 

      O&M file

    • C. 

      Master file

    • D. 

      Base 100% file

  • 35. 
    Which General Accounting and Finance System (GAFS) listing provides the status of funds?
    • A. 

      ODL

    • B. 

      DAL

    • C. 

      DASL

    • D. 

      OBL/AL

  • 36. 
    Which general accounting and finance system listing identifies all open document summary records in the BQ system?
    • A. 

      ODL

    • B. 

      DAL

    • C. 

      DASL

    • D. 

      OBL/AL

  • 37. 
    Which General Accounting and Finance System (GAFS) listing is used to balance all merged accountability and fund reporting transactions?
    • A. 

      OBL/AL

    • B. 

      ODL

    • C. 

      DAL

    • D. 

      DASL

  • 38. 
    Which code identifies the type of funds being disbursed or collected?
    • A. 

      ESP code

    • B. 

      Sales code

    • C. 

      MAFR code

    • D. 

      Transaction idenitifcation code

  • 39. 
    If an item has been received but no invoice loaded, how much time will elapse before the integrated accounts payable system will generate a follow-up letter requesting an invoice?
    • A. 

      30 days

    • B. 

      60 days

    • C. 

      90 days

    • D. 

      120 days

  • 40. 
    What listing will help supervisors plan workload schedules and determine the foreign currency needs?
    • A. 

      Vocuher control log

    • B. 

      IAPS payment forecast

    • C. 

      Invoice computation list

    • D. 

      Unreconciled invoices list

  • 41. 
    Which of the following is not analyzed for the cost per flying hour program?
    • A. 

      MSD

    • B. 

      Medical

    • C. 

      AVFUEL

    • D. 

      Consumable supplies

  • 42. 
    Sound analysis of the cost per flying hour (CPFH) data is the responsibility of the:
    • A. 

      FMA

    • B. 

      Comptroller

    • C. 

      First Sergeant

    • D. 

      OG scheduling office

  • 43. 
    Aviation fuel (AVFUEL) requirements are calculated based on
    • A. 

      Wind speed

    • B. 

      Head winds

    • C. 

      Wing design

    • D. 

      Burn rates

  • 44. 
    What budget code is used to identify flying hour operation supplies?
    • A. 

      Two

    • B. 

      Four

    • C. 

      Six

    • D. 

      Eight

  • 45. 
    If the accounting data do not agree with the supply system, identify the discrepancies to:
    • A. 

      FMA

    • B. 

      DFAS

    • C. 

      Supply

    • D. 

      Comptroller

  • 46. 
    When billing agencies within the Department of Defense (DOD), if the cumulative total is less than $500 at the end of the first month in the quarter, what action is taken?
    • A. 

      Agency is billed automatically

    • B. 

      Cumulative total is taken to zero and no bill is generated

    • C. 

      Billing is held in suspense until the end of the fiscal quarter

    • D. 

      Billing is held in suspense until the end of for the fiscal year, or until the cumulative total exceeds $500 at which time the agency is billed

  • 47. 
    Which of the following is not a reason the Base Accounts Receivable System (BARS) was established?
    • A. 

      Automate manual billing procedures

    • B. 

      Provide the Air Force a standard automated payable system

    • C. 

      Provide the Air Force a standard automated receivable system

    • D. 

      Replace nonstandard command or base level unique billing systems

  • 48. 
    What should you do if you have attempted to collect a 90-day old interdepartmental debt with a follow-up letter and it remains and it remains unpaid?
    • A. 

      Prepare a DD Form 1131

    • B. 

      Accomplish another follow-up letter

    • C. 

      Forward account to the field site commander

    • D. 

      Request collection assitance from DFAS-DE

  • 49. 
    The base that processes the For-Others transaction is considered the:
    • A. 

      PCS station

    • B. 

      Paying station

    • C. 

      Gaining station

    • D. 

      Processing station

  • 50. 
    Which is not a source of supply for interfund?
    • A. 

      DLA

    • B. 

      GSA

    • C. 

      OMS

    • D. 

      Local vendor

  • 51. 
    How many detail billing transactions may an interfund bill contain?
    • A. 

      Only one

    • B. 

      No less than 494

    • C. 

      No more than 494

    • D. 

      There is not limit

  • 52. 
    Who transfers the funds for the Air Force portion of an interfund bill?
    • A. 

      ALO

    • B. 

      Field site

    • C. 

      DFAS-DE

    • D. 

      DFAS-CO

  • 53. 
    Complete accounting information related to Air Force funds is contained in the
    • A. 

      Fund code

    • B. 

      Stock fund

    • C. 

      Account ledger

    • D. 

      General ledger

  • 54. 
    Who establishes general ledger subsidiary accounts for internal management and reporting requirements?
    • A. 

      Wing RA

    • B. 

      Field site

    • C. 

      HQ USAF

    • D. 

      DFAS-DE

  • 55. 
    Which is not one of the four basic sections of the trial balance?
    • A. 

      Details

    • B. 

      Changes

    • C. 

      Balances

    • D. 

      Accounts

  • 56. 
    Which section of the trial balance reflects the activity of the general ledger accounts from the current month?
    • A. 

      Details

    • B. 

      Changes

    • C. 

      Balances

    • D. 

      Accounts

  • 57. 
    What Air Force instruction provides the basic guidance for developing comptroller plans for comptroller operations during emergency conditions; limited wartime contingency operations; global sustained conventional war; and survival, recovery, and reconstitution of forces?
    • A. 

      AFI 10-403, Deployment Planning

    • B. 

      AFI 65-601 Volume I, Budget Policies

    • C. 

      AFI 31-209, Air Force Resource Protection Program

    • D. 

      AFI 10-213, Comptroller Operations under Emergency Conditions

  • 58. 
    When prepositioning cash to support a contingency, the cash reserve is specifically for emergency good and services for deployed activities during the first
    • A. 

      24 hours

    • B. 

      36 hours

    • C. 

      48 hours

    • D. 

      72 hours

  • 59. 
    During a contingency, currency requirements are determined by
    • A. 

      Size and length of the contingency

    • B. 

      Size and deployment time to theatre

    • C. 

      Location and size of opposing forces

    • D. 

      Length and location of the contingency

  • 60. 
    Standard Form 44, Purchase Order-Invoice Number, is used to
    • A. 

      Fund TDYs

    • B. 

      Identify future purchases

    • C. 

      Purchase goods and services during normal conditions

    • D. 

      Purchase items from local vendors during exercises or emergency conditions

  • 61. 
    What type of expenditures is tracked on an emergency and special programs report?
    • A. 

      Official Representation funds

    • B. 

      Defense Working Capital funds

    • C. 

      Special Morale and Welfare funds

    • D. 

      Operating and Maintenance expenditures

  • 62. 
    What types of exepnditures are shown on the RCS: HAF-MWR(Q)8401 report?
    • A. 

      Official Represenations funds

    • B. 

      Defense Working Capital funds

    • C. 

      Special Morale and Welfare funds

    • D. 

      Operating and Maintenance expenditures

  • 63. 
    What rates are normally used in preparing the budget submission?
    • A. 

      Cost

    • B. 

      Budget

    • C. 

      Financial

    • D. 

      Exchange

  • 64. 
    Who determines the budget rate for a budget submission?
    • A. 

      Congress

    • B. 

      Comptroller General

    • C. 

      Defense Finance and Accounting Service

    • D. 

      American Society for Military Comptrollers

  • 65. 
    What account is used to charge losses or credit gains between amounts obligated, at specified budget rates, in the basic appropriation and the amount disbursed at the current rate of exchange for designated foreign currencies?
    • A. 

      Centrally Managed Allotment account

    • B. 

      Parent base's Operations and Maintenance account

    • C. 

      Parent base's Official Representation Fund account

    • D. 

      Parent base's Base Procured Investment Equipment account

  • 66. 
    What does the formula (PYR/CYR) - 1 allow you to determine?
    • A. 

      Foreign currency adjustment from the previous years budget rate to the current years budget rate

    • B. 

      US currency adjustment from the previous years budget rate to the current years budget rate

    • C. 

      Foreign currency adjustment for the current year from previous years budget rate to the next years budget rate

    • D. 

      None of the above

  • 67. 
    How often should complete voucher packages be uploaded when paying via ITS?
    • A. 

      Weekly, with all obligations in one package

    • B. 

      Weekly, with obligations split by category

    • C. 

      Daily, with all obligations in one package

    • D. 

      Daily, with all obligations split by category

  • 68. 
    Why is the bank account information compared against a database in PCC?
    • A. 

      To verify the balance available in the account

    • B. 

      To verify the account is in good standing

    • C. 

      To verify if the account belongs to someone else

    • D. 

      The bank account information is not compared against a datbase in PCC

  • 69. 
    Why is a checker imager needed for PCC?
    • A. 

      To produce a receipt

    • B. 

      To ensure funds are available

    • C. 

      To reduce amount of bounced checks

    • D. 

      To verify the account is in good standing

  • 70. 
    Which section of the Combat Comptroller Community of Practice contains unique and unusual situations as well as idenitifed problems and proposed solutions?
    • A. 

      Predeployment

    • B. 

      Deployment

    • C. 

      Post deployment

    • D. 

      UDM/Warplanner