ACQ 202 Module 3 Exam: Part I Designing - Prototyping the System questions with correct answers

For a contract cost to be considered "allowable," it must be consistent with Government Cost Accounting Standards, Generally Accepted Accounting Principles, the terms of the contract, and the Federal Acquisition Regulation (FAR). It must also be reasonable and: - Answer -Reflected in the liabilities listed in the corporate balance sheet -Fair and equitable to all parties, including all involved subcontractors -Factored into the profitability ratios reported by the firm -*Allocable to the contract (in whole or in part) or to the overall cost of operating the business* A company's organizational structure supports its business strategy by: - Answer -Using only the divisional organizational structure -Having as many managers as possible -Focusing on only one area -*Focusing resources where needed to achieve corporate goals and objectives* What form of information exchange would a Contracting Officer use to reach agreement with an offeror over the terms of a contract? - Answer -Clarification -*Negotiation* -Discussion -Communication