FAC1601 BOARD Evaluation Questions
and
Answers Verified Solutions Latest
Update
Question:
If there is an erroneous payment, then
Answer:
The Certifying Officer is presumed negligent and the accountable official has the
burden of proof
Question:
31 U.S.C. 3802 sets the pecuniary liability limit to a civil penalty
Answer:
Of not more than $5,000 and twice the full amount of the erroneous payment
Question:
The appropriation section of this fund cite best relates to which fiscal concept, in the
above example?
Answer:
Purpose
Question:
What does the highlighted 2-digit number represent in the above example?
Answer:
Fund code
, Question:
In an accounting classification, what does the Element of Expense/Investment Code
represent?
Answer:
Resource consumption for a particular commodity
Question:
This resource contains listings of EEICs, RC/CCs, accounts receivable sales codes,
accounting action and post codes, and many other data elements
Answer:
Financial Management Data Dictionary
Question:
Which level includes all the details of an accounting classification resulting in a unique
fund citation?
Answer:
Fund summary records (FSRs)
Question:
When Congress hasn't passed the new fiscal years Appropriation Act by the start of the
new fiscal year, what does SAF/FMB provide that allows Air Force activities to spend
money pending the passing of the DoD Appropriations Act?
Answer:
Continuing Resolution Authority (CRA)
Question:
Which of the following is true?
Answer:
Floors are minimum amounts you can spend on a particular program by the end of the
period of availability
and
Answers Verified Solutions Latest
Update
Question:
If there is an erroneous payment, then
Answer:
The Certifying Officer is presumed negligent and the accountable official has the
burden of proof
Question:
31 U.S.C. 3802 sets the pecuniary liability limit to a civil penalty
Answer:
Of not more than $5,000 and twice the full amount of the erroneous payment
Question:
The appropriation section of this fund cite best relates to which fiscal concept, in the
above example?
Answer:
Purpose
Question:
What does the highlighted 2-digit number represent in the above example?
Answer:
Fund code
, Question:
In an accounting classification, what does the Element of Expense/Investment Code
represent?
Answer:
Resource consumption for a particular commodity
Question:
This resource contains listings of EEICs, RC/CCs, accounts receivable sales codes,
accounting action and post codes, and many other data elements
Answer:
Financial Management Data Dictionary
Question:
Which level includes all the details of an accounting classification resulting in a unique
fund citation?
Answer:
Fund summary records (FSRs)
Question:
When Congress hasn't passed the new fiscal years Appropriation Act by the start of the
new fiscal year, what does SAF/FMB provide that allows Air Force activities to spend
money pending the passing of the DoD Appropriations Act?
Answer:
Continuing Resolution Authority (CRA)
Question:
Which of the following is true?
Answer:
Floors are minimum amounts you can spend on a particular program by the end of the
period of availability
