Acq 101 module 7 test - Study guides, Class notes & Summaries

ACQ 101 Module 7 & Exam: Financial Management Questions with 100% Correct Answers | Latest Version 2024/2025 | Expert Verified | Ace the Test

ACQ 101 Module 7 Financial Management Questions with 100% Correct Answers | Latest Version 2024/2025 | Expert Verified | Ace the Test

Defense Acquisition University ACQ 101/ACQ101 all module tests Fall 2022 Questions and correct Answers. Defense Acquisition University; ACQ 101 all module Exams 1) A system can be defined as: All elements (e.g., hardware, software, logistics support, personnel) needed to assist the Department of Defense (DoD) to conduct its mission of deterring or winning war The deployment and fielding processes used by the Department of Defense (DoD) to conduct its mission of deterring or winnin...

ACQ 101 Module 7 Financial Management Guaranteed Success After the budget authority has passed its obligation period, it goes into the expired account for a period of 5 years and cannot be used for new obligations. ️True Anti-Deficiency Act ️Prohibits from involving the government in a contract or obligation for the payment of money before an appropriation is made unless authorized by law. Prohibits against over obligating or overspending an appropriation. Anti-deficiency Act Vio...

2024 ACQ 101 Module 7 Financial Management | Actual Questions and Verified Answers ( Included ) 100% Correct

2024 ACQ 101 Module 7 and Exam Financial Management | Actual Questions and Verified Answers ( Included ) 100% Correct

Select the term that best fits the following definition: "An administrative reservation of funds by the local comptroller, in anticipation of a future obligation." *Commitment* Which of the following is a Life Cycle Cost Category? *Research and Development* Generally, the Engineering cost technique method would be used early in the life of the program during the TMRR Phase when you do not have in-depth information about the system you are designing. *False*

What is budget authority? The authority to enter into obligations that will results in immediate or future outlays. Similar to a spending limit that is approved by Congress. What is a commitment? An administrative reservation of funds, usually by the comptroller, in anticipation of a future obligation. What is an obligation? The legal reserve of funds to make a future payment of money. What is an expenditure? Is a charge against available funds. It results from a voucher, claim or other...

ACQ 101 Module 7 & Exam: Financial Management Questions and Answers 100% Pass Select the term that best fits the following definition: "An administrative reservation of funds by the local comptroller, in anticipation of a future obligation." *Commitment* Which of the following is a Life Cycle Cost Category? *Research and Development* Generally, the Engineering cost technique method would be used early in the life of the program during the TMRR Phase when you do not have in-depth information...