BCF 110 Module 07 Exam

Military Construction Procurement 8. Time now is January 2015. The FY 2013 Aircraft Procurement, Air Force appropriation is: Current Expired Cancelled None of these are correct 9. During the Mid-Year review process, why is it important to identify programs whose funds are not being spent as forecast? so funds can be reprogrammed as needed so programs can be cancelled or suspended until the next fiscal year so ineffective program offices and be re-resourced with a more experienced staff 10. True or False. Per DFAS guidance, program offices should continuously monitor financial activity to ensure financial transactions are valid and correctly recorded in a timely manner, such as commitments, obligations, expenses, and disbursements. True False 11. What are the responsibilities of the FM during the Triannual Review (TAR)? Select three Review and reconcile accounts payable balances Identify dormant commitments and unliquidated obligations that are eligible for close out Provide data on Unfulfilled Customer Orders(UFCO) and accounts receivable Reconcile contract payments and incomplete travel orders 12. True or False. Financial managers work with other program management resources to ensure all transactions entered into are appropriately concluded to ensure that undelivered services and materials are subsequently delivered at the time of expiration. True False 13. True or False. Financial managers resolve unmatched disbursements (UMDs) by conducting research and implementing corrective actions. True False 14. True or False. During the last two months of the fiscal year, appropriation sponsors conduct intense effort to pull back unobligated funds and reissue to other unfunded requirements. True False