CDFM - Module 3 Questions & Answers Questions with 100% Correct Answers

CDFM - Module 3 Questions & Answers Questions with 100% Correct Answers What is the Budgetary Account formula? - answerRecourses = Status of Resources Source of Incoming Funds = Use/location of Funds Under the Prompt Pay Rules, when is Constructive Acceptance considered to take place? - answerwhen acceptance document has not been received in a timely manner (NLT 7 calendar days after receipt What are the 5 valid voucher requirements - answer(1) voucher heading and date (2) Line of Accounting (LOA) (3) amount (4) method of payment (5) payee What are 3 Federal Financial Statements? - answer(1) Balance Sheet (2) Statement of Net Cost (3) Statement of Net Position What is the O&M limitation on minor construction? - answer$750K or up to $1.5M for health or safety related requirements with congressional approval. A maximum Earmark may not be augmented with funds from the general appropriation but any un-obligated amounts may be used for other objects in the general appropriation pertains to which Earmark concept? - answerEarmark concept: Not to Exceed Proprietary/Financial Accounting tracks - answerassets What specific statutory authority allows an agency to incur obligations in anticipation or in advance of either receipts or an appropriation of liquidating cash with which to pay the obligation? - answerContract Authority Personal Impairments result from what? - answerrelationships or beliefs that might weaken or slant audit finding