Clc stuvia 2023 - Study guides, Class notes & Summaries

Which of the following are exemptions to the Cost Accounting Standards? - ANSWER-Small Businesses; Contracts based on established or market prices or fixed by law or regulation; All contracts awarded using sealed bidding Using the CAS Coverage and Disclosure Statement Determination flowchart, determine if the original (basic) BBOMS contract is subject to CAS - ANSWER-Yes, none of the listed exemptions apply. Since this is a negotiated procurement in excess of $7.5 M, the contract is coved by ...

As you walk into the hospital room to see Erin, you find her breastfeeding her baby, chatting with a couple of friends, with her gown down around her waist and her breasts exposed. Your response is to: a) tell her to cover herself up, as there is no need to just "whip it out", b) do and say nothing about the exposed breasts, c) cover her and the infant with a baby blanket, or d) ask the visitors to please leave until Erin is finished nursing - ANSWER b) do and say nothing about the exposed bre...

Which of the following are exemptions to the Cost Accounting Standards? - ANSWER-Small Businesses; Contracts based on established or market prices or fixed by law or regulation; All contracts awarded using sealed bidding Using the CAS Coverage and Disclosure Statement

When should be the first time you express milk? Why? - ANSWER 1 hour following birth; gives you the highest milk volume What is a difference between hand expressed and pumped milk? - ANSWER Hand expression gives more calories and fat than pumped milk. Why is early hand expression beneficial? - ANSWER It increases in energy and fat Why is hand expression the best way to extract milk? - ANSWER It is the cleanest How to hand express is... - ANSWER 1. Wash hands and gather supplies 2. K...

According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques? - ANSWER-Comparison of proposed prices received in response to the solicitation * How may you request an audit? - ANSWER-All of these are correct A "questioned cost" is one that has not yet been evaluated. - ANSWER-False * True or False: "Direct labor positions" share the same titles and pay levels. - ANSWER-False * For which of the following procurements would you require ce...

According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques? - ANSWER-Comparison of proposed prices received in response to the solicitation * How may you request an audit? - ANSWER-All of these are correct A "questioned cost" is one that has not yet been evaluated. - ANSWER-False * True or False: "Direct labor positions" share the same titles and pay levels. - ANSWER-False * For which of the following procurements would you require ce...

According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques? - ANSWER-Comparison of proposed prices received in response to the solicitation * How may you request an audit? - ANSWER-All of these are correct A "questioned cost" is one that has not yet been evaluated. - ANSWER-False * True or False: "Direct labor positions" share the same titles and pay levels. - ANSWER-False * For which of the following procurements would you require ce...

One of the elements of the government pricing objective is to ensure that contract prices are fair and reasonable. Which of the following statements is true about "fairness to seller" that involve concerns? (Select all that apply) - ANSWER-- Sellers need to be concerned about an unrealistic low price because of the risk - Sellers need to be concerned about the market implications of a price that is too high - Sellers need to be concerned about major mistakes in estimating costs - Sellers ne...

What is a fair price to the seller? - ANSWER-A fair price for the seller means that the seller will be able to satisfy the terms and conditions of the contract. An offer that is too low is considered unrealistic. It may: •Cut corners on the quality of the product •Deliver the product late •Default on delivery, forcing a time-consuming reprocurement •Refuse to deal with the government in the future Below-Cost Prices - ANSWER-Below-cost prices are NOT necessarily unfair to the sel...

Which of the following are exemptions to the Cost Accounting Standards? - ANSWER-Small Businesses; Contracts based on established or market prices or fixed by law or regulation; All contracts awarded using sealed bidding Using the CAS Coverage and Disclosure Statement Determination flowchart, determine if the original (basic) BBOMS contract is subj