The __________ is a requirement in a disbursing office and must be prepared for each business day that business is transacted. It reports all types of transactions that affect fund balances for the day as well as require
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The __________ is a requirement in a disbursing office and must be prepared for each business day that business is transacted. It reports all types of transactions that affect fund balances for the day as well as require month to date balance. This report ensures agreement between the disbursing offices cash accountability to the Treasury and disbursement and collection transactions recorded in account system. - ANSWER Daily Statement of Accountability, DD2657
The 4 major functions of Finance are ____________. - ANSWER Entitlements, payments, collections and Control of public funds
This requirement in a disbursing office must be prepared to deposit all currency coins and negotiable instruments to the credit of US Treasury. The ________ is used to verify the deposit of funds with the related collection vouchers. - ANSWER Deposit Ticket, SF 215
A(n) ________must be prepared for each DSSN each month whether or not any transactions occur. This report must balance with the DD2657. - ANSWER Statement of Accountability, SF 1219
A(n) _________ is prescribed daily accountability to the disbursing office for deputies, agents and cashiers. It must be prepared daily and includes an actual count of all cash and negotiable instruments performed by the deputy agent and cashier who have custody. - ANSWER Daily Agent Accountability Summary, DD Form 2665
___________uses internet and World-Wide technology to share documents across the Department. The Defense Finance and Accounting Service led the implementation of an Intranet application that assures DoD-wide online access to contracts and other documents - ANSWER Electronic Document Access
Electronic Commerce refers to a wide range of financial functions that are conducted using electronic communications and data processing methods. One form is _____________ Computer to computer exchange of business information in a standard format between one or more parties (I.e., contractor, receiving activity, paying office). - ANSWER Electronic Data Interchange
Advance payments can be made to vendors if the advance is limited to no more than the contract price and - ANSWER Contractor gives adequate security and it is in the interest of the public or facilitates national defense
________ are amounts earned and collected for property sold or services furnished to the public or to another US Government agency. - ANSWER Reimbursements
The 3 major requirements performed by a Disbursing Officer are maintaining records, using electronic commerce and ___________. - ANSWER Reporting
Who other than the accountable official and disbursing officer is responsible for any wrong payment or over obligation resulting from negligence of their duties? - ANSWER Certifying Official
The next step for collecting payment from contractors that have failed to respond to demand letters is _______________. - ANSWER Hold up lists
If a Civilian receives less than ________ of their biweekly pay and allowances they are eligible for Special Pay. - ANSWER 90%
True or False? Only the Disbursing officer and certifying officer can have personal and pecuniary liability for their actions in financial transactions. - ANSWER FALSE
_________ is the name of the electronic system used to report disbursements and collections on a daily basis to the Treasury. - ANSWER Ca$h-Link
True or False: Each transaction conducted by an officer, agent or employee of the government of the US MUST be evidenced by a written or printed signed document or series of documents that together form a complete record of the transaction. - ANSWER TRUE
This requirement in a disbursing office must be prepared daily to summarize the transactions by voucher number. It must identify type of payment and is used to assure that all vouchers are accounted for and that all payment and collection vouchers are entered in accountability records. It is called the ________. - ANSWER Voucher Control Log, DD2659
A DoD Disbursing Officer is a fiscal Agent of the US Treasury. That authority is delegated to him by ________. - ANSWER Secretary of Defense
__________ are held by individuals such as commissary officers, sales officers, personnel officers, etc. These are promptly turned over to their servicing Disbursing officer or deposited into a authorized general depository. - ANSWER Indirect Collects
Accountable individuals are not held personally and peculiarly liable for their acts involving the expenditure of public funds when the improper or erroneous payment was made by a deputy, agent or cashier. - ANSWER FALSE
The principle agent responsible for DoD Disbursements is __________ - ANSWER The Defense Finance and Accounting Service
All federal government cash receipts and disbursements must clear through the US Treasury and the source of those transactions must be identifiable. To facilitate that requirement the US Treasury assigns each disbursing office a four digit _________ or _ - ANSWER DSSN, Disbursing Station Symbol Number
The Major functions performed by the disbursing offices are __________- - ANSWER Paying and collection
________ is a recoupment of a payment made in error. - ANSWER Refund
_________ is a collection creditable to the Treasury Department miscellaneous receipt accounts or other accounts or funds as authorized by legislation. - ANSWER Receipts
_________ refers to a situation, clearly stated in a contract, when the contractor is authorized to certify that the goods have delivered. - ANSWER Fast Pay
The major focus of ________ is on certifying entitlements and making payments. Additionally, it focuses on the various disbursement responsibilities and requirements for safeguarding the resources that are under an accountable individuals control. - ANSWER Finance
Formal certification that the goods or services have been received is called________ - ANSWER Actual Acceptance
Which of these would be a function of the Paying Officers? - ANSWER Both B and C
Accuracy of time and attendance sheets is the responsibility of __________. - ANSWER The supervisor
Which answer is NOT a function of the Certifying Official? - ANSWER All of the answers above are a function of the CO
When a contractor has a confirmed debt outstanding to the government, Disbursing Offices are to ______ for subsequent work or orders. - ANSWER Withhold payment if the vendors name appears on the Hold-Up-List
When in doubt as to whether a payment may be illegal or improper the Disbursing Officer may request a(n) _________ on the propriety of an prospective payment before certifying or paying the item. - ANSWER Advance Decision from Comptroller General of the US
The term _______ refers to any irregularity in the financial accountability of the Disbursing Officers account. - ANSWER Out of balance
The term ______ refers to any when the amount of the check is greater than the amount report by the Disbursing Officer or if the check is greater than the amount the payment voucher shows as due. - ANSWER Check Issuer Overdraft
The term _______ refers to any time when the amount of the check is less that the amount report by the Disbursing Officer or if the check is less than the amount the payment voucher shows as due. - ANSWER Check Under draft
True or False? When considering the President's Budget proposal the Congress may modify but may not remove or eliminate programs. - ANSWER FALSE. Congress may approve modify or eliminate programs on the Submitted budget.
Unresolved contractor debts of more than ________ are sent to the Department of Justice for further action? - ANSWER $100,000
Which answer is NOT a function of the Accountable Official or Individual? - ANSWER Returning Unpaid and incomplete voucher
________ is a subset system that provides simultaneous online billing and collection of intragovernmental transactions included debts collected by other agencies. - ANSWER On-Line Payment and Collection System (OPAC)
Which answer is a function of the Paying Officers: - ANSWER Disbursing Money as provided by certified vouchers
The timely and accurate preparation, certification and submission of time attendance records is the responsibility of ___________. - ANSWER The supervisor
The _______allows for the use of 104 hours of sick leave even though the employee is not sick. - ANSWER The Family Friendly Leave Act
The _________allows for voluntary leave and transfer as long as it is not donated to an immediate supervisor. - ANSWER The Federal Employees Leave Sharing Amendments Act
_____requires that Federal agencies make payments in a timely manner and that if payment is late that interest be paid. - ANSWER Prompt Payment Act
_____ is when receipt and acceptance documents have been received in a timely manner and it is not later than 7 calendar days after delivery of goods or performance of services. - ANSWER Constructive Acceptance
True or False? All US Treasury Checks are payable up to 5 years after the date of delivery. - ANSWER FALSE. All US Treasury Checks are payable up to 1 year after the date of delivery.
Which of these is an action that can be taken to collect debt from current or former military or civilian employee? - ANSWER They will be sent one letter then it is offset against their pay, or if retired sent to DFAS to be offset against retirement pay
True or False? The three controls for safeguarding assets are the Separate and secure storage, inspection of security and system access. - ANSWER TRUE
________ is the wide range of financial functions that are conducted using electronic communications and data processing. - ANSWER Electronic Commerce
_______ is a transfer of funds other than a transaction originated in cash, check or similar paper instrument. - ANSWER Electronic Fund Transfers
______ is an internet platform that provides access to a collection of applications to report and/or view financial information provided to FMS - ANSWER Government On-Line Accounting Link System (GOALS)
Initiating program performance reform with a series of pilot projects, setting program goals, measuring program performance against those goals, and reporting publicly on their progress are all goals of the ________. - ANSWER Government Performance and Results Act
Disbursing Officers must maintain copies of vouchers, records and other supporting documentation for a period of not less than_____. - ANSWER 6 yrs 3 mos
The ______ established PAYGO for entitlements which means that if a law increases the deficit or reduces a surplus in the budget year or the four following years, another law must be enacted with an offsetting reduction in spending or increase in receipts - ANSWER Budget Enforcement Act
The ______prohibits set-based wage discrimination between men and women in the same establishment who are performing under similar working conditions. - ANSWER Equal Pay Act
____ is the expression used to describe the situation in which the invoice has been paid but the signed receiving report has not been located. - ANSWER Pay and Confirm
Add 7 dates to date goods/received. This is called the - ANSWER constructive accepance date
Compare constructive acceptance and actual acceptance and take the _____ as step 2 in calculating due date - ANSWER earlier
Step 3 in calculating due date: Compare results from step 2 and take the _____. - ANSWER later
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