Fasab mission Study guides, Class notes & Summaries

CDFM - Module 3 questions and answers latest top score. What are the three tests that must be met for use of the Necessary Expense doctrine? - correct answer. Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - correct answer. The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budge...

CDFM - Module 3 questions and answers graded A+. What are the three tests that must be met for use of the Necessary Expense doctrine? - ANS. Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - ANS. The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources rema...

CDFM Module 3 Exam Prep Questions & Answers 2023, Complete Solution, Over 350 Questions And Answers What are the three tests that must be met for use of the Necessary Expense doctrine? Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? The Defense Finance and Accounting Service (DFAS) (p. 3.1.51) What type of budgetary resources rem...

GASB | Financial Statement Components - ANSWER-1. Auditor's Report 2. MD&A 3. Basic Financial Statements - Government-Wide Financials (Icing) - Fund Financials (Layers) - Notes (Filling that holds the layers together) 4. RSI 5. Combining Statements & Individual Fund Statements GASB | Statistical Section Components - ANSWER-1. Financial Trends 2. Revenue Capacity 3. Debt Capacity 4. Demographics and Economics 5. Operations Examples of Direct Costs - ANSWER-- Salary and Benefi...

CDFM - Module 3 Final Exam Questions And Answers 2023 Latest Rated 100%. What are the three tests that must be met for use of the Necessary Expense doctrine? - Answer Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - Answer The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources remains avai...

CHAPTER 17: ACCOUNTING AND REPORTING FOR THE FEDERAL GOVERNMENT OUTLINE Number Topic Type/Task Status (re: 15/e) Questions: 17-1 Federal financial management responsibilities Identify New 17-2 Federal GAAP hierarchy Compare New 17-3 Conceptual framework Describe 11-3 17-4 Accounts used in federal accounting Explain 11-4 17-5 Net position and net assets Compare 11-5 17-6 FASAB compared to GASB Contrast 11-6 17-7 Federal funds Identify, compare New 17-8 Stewardship assets Define, ...

CDFM - Module 3 Questions And Answers 2023 Latest Rated 100%. What type of Congressional resolution can be thought of as a temporary appropriations act? - Answer Continuing Resolution (*CR*) (p. 3.1.41) What agency apportions funds for a working capital fund? - Answer The Office of Management and Budget (*OMB*) (p. 2.1.71) What is the acronym for disbursing office identification numbers? - Answer Disbursing Station Symbol Numbers (*DSSN*) (p. 3.2.30) What three primary types of official...

Version 1 1 Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By Jacqueline Reck Version 1 2 Student name:__________ 1) Explain the essential differences between general purpose and special purpose governments and give several examples of each. 2) Identify and explain the characteristics that distinguish governments and not-for-profit entities from business entities. 3) GASB and FASB standards are concerned only with external financial reporting; whereas, ...

What are the three tests that must be met for use of the Necessary Expense doctrine? - Answer Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - Answer The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources remains available for new obligations for more than one fiscal year? - Answer Multi-...

The Budget and Accounting Act of 1921 established the GAO- Legislative Branch- to audit financial transactions of which branch of the Government? - ANSWER Executive Branch The GPRA requires agencies to define goals, set performance targets, and report what? - ANSWER Actual Performance Any enforceable agreement between an agency and a business concern for the acquisition of property of services is called what? - ANSWER contract What term is used to describe Federal Government funds that ...