Exam (elaborations)
ACQ 101 Module 7 Financial Management questions with answers.
- Course
- Institution
ACQ 101 Module 7 Financial Management questions with answers.
[Show more]
Seller
Follow
Content preview
ACQ 101 Module 7 FinancialManagement questions with answers.
What is budget authority? ANS -The authority to enter into obligations that will results in immediate or
future outlays. Similar to a spending limit that is approved by Congress.
What is a commitment? ANS -An administrative reservation of funds, usually by the comptroller, in
anticipation of a future obligation.
What is an obligation? ANS -The legal reserve of funds to make a future payment of money.
What is an expenditure? ANS -Is a charge against available funds. It results from a voucher, claim or
other document approved by competent authority.
What is an outlay? ANS -Occurs when the vendor cashes the expenditure check and money flows from
the treasury to the vendor of supplier.
What is a life cycle cost? ANS -The cost to the government of acquisition and sustainment of a system
over its useful life.
Life Cycle Cost LCC is divided into 5 major appropriations categories; what are they? ANS -Operations &
Maintenance O&M; Military Personnel; Research, Development, Test and Evaluation RDT&E;
Procurement; Military Construction
What are 4 cost estimating techniques? ANS -Analogy, Parametric, Engineering, Actual Costs
The engineering cost technique method would be used early in the life of the program during the TMRR
Phase when you do not have in-depth information about the system you are designing. ANS -False
When is the analogy method used? ANS -The analogy is used early in the life of the program during the
TMRR Phase when you do not have in-depth information about the system you are designing.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.19. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76667 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now