FINANCIAL MANAGEMENT QUIZ

For accounting purposes, naval activities are divided into what two categories?

Shore activities and operating forces

Who authorizes an appropriation to incur obligations?

Congress

Most appropriations used to finance the normal operating costs of the navy are for what period of time?

A year

The fiscal year covers what specific period of time?

1 October to 30 September

What type of work is supported by a continuing appropriation?

Construction of a supply building

Appropriations are placed in what order as to their status?

Current, expired, lapsed

At the end of their availability period, the un-liquidated obligations of annual and/or multiple year appropriation are transferred to which of the following government agencies?

Treasury

The third digit in the appropriation symbol on an accounting document covering charges and credits to funds provides which of the following items of information?

Fiscal year

The first two digits of symbol 17x4911 indicate that the appropriation is administered by which of the following agencies?

Navy department

The letter “X” in the appropriation symbol 17X1832 provides what specific information?

No fiscal year limitations

Which of the following represents the last two digits of the major claimants UIC?

First two digits of the appropriation number subhead

What type of fund is reimbursed in an amount equal to each expenditure?

Revolving

What fund is used to procure stocks of common supply items carried in the Navy Stock Account (NSA)?

Navy working capital fund

Which of the following is the administrator of the navy working capital fund?

Commander, naval supply systems command

All except which of the following transactions would cause a charge against the Defense business operations fund?

Cash sales from the NSA to foreign government

Which of the following symbols represents the defense business operations fund?

17X4911

What is the inventory account title of material purchased by the defense business operations fund and held until needed by a navy customer?

Navy stock account

Which of the following funds is a revolving fund used to finance commercial-type activities, such as a naval shipyard?

Navy industrial fund

The navy is involved in improving a runway of a British airfield. The cost of labor and material will probably be initially charged to which of the following funds?

Navy working fund

What funds are credited for money spent by navy members procuring items from the ship’s store of a naval vessel?

Navy management fund and navy working capital fund

The Navy Ship’s store profits fund is what type of fund?

Trust

Object class codes are used in what type of transactions?

Only OPTAR transactions which affect the international balance of payments

What previously assigned code is always used as the operating budget number?

Unit identification code

Unit identification codes are assigned by which of the following individual?

Comptroller of the Navy

Responsibility for assigning accurate unit identification code on requisitions rests with which of the following organizations?

Preparing Activity

Appropriated funds are made available at the operating level in what form(s)?

Operating budget

Which of the following operating budget numbers will be shown on an invoice for fuel transferred from a fleet oiler to a destroyer in the Pacific?

00070

In which of the following OPTAR transactions should an object class code be indicated on each document?

When the transaction affected the international balance of payments

The cost code shown on a requisition consists of which of the following elements?

Two zeros, Julian date, serial number, and fund code

For aviation funds accounting purposes, squadrons are referred to as

Aviation operating forces

Which of the following is the budgeted amount within an operating budget approved in a fixed amount for incurring obligations or unfilled orders?

Obligation authority

Which of the following commands or activities are NOT included in ship operating forces?

All shore activities

Unfilled order chargeable documents are assembled and forwarded to what official or activity by the OPTAR holder?

DFAS

What program provides the responsible commanders with a budget that includes all costs incurred instead of allotments to cover only limited portions of those costs?

RMS

Of the four subsystems that make up the RMS, an LS would be most concerned with which one?

Management of resources for operating units

Under the RMS management procedures, which of the following steps should you do first?

Planning

The development of resource requirements, administration of available funds, and continuous analysis of the status of OPTARs issued is the responsibility of what command or officer?

TYCOM

To determine how OPTARs are to be administered and reported, you should refer to what publication?

NAVSO P-3013-2

The navy working capital fund (NWCF) is reimbursed when material is requisitioned for use by charging the customer’s.

OPTAR

  Under OPTAR accounting procedures, what dollar value currently is considered the threshold amount?

$250

What type of OPTAR, if any, is exempt from threshold concept?

Reimbursable

Which of the following codes is NOT considered as one of the nine data fields of a complete line of accounting data?

Country

Fund codes and accounting classifications for use by operating forces are contained in what appendix of NAVSUP P-485?

30

A message Buget/OPTAR Report, is submitted to the DFAS no later than what day of the month following the end of the month being reported?

1st

The summary filled order expenditure difference listings are received how often?

Monthly

All differences shown on the SFOEDL are listed by what code?

Fund

Differences of what minimum dollar amount are manually researched by the DFAS before being reported to the OPTAR holder?

$250

Unfilled orders that have not matched with related expenditure documents will appear on the unfilled order listing after what minimum number of days

120 days