HW Questions

1.If Acme is an average civilian federal agency and had 1,000,000 employees, about half of the employees would belong to a union. T/F
2.Accounts Receivable is an example of an equity-type account (assets – liabilities) for the federal government. T/F
3.If an agency has an appropriation for construction for FY 2018 for $1,000,000,000 and the only order is for $900,000,000, and the order is on January 1, 2018 for training (not related) to construction, would the order be allowable? T/F
4.One of the issues in the federal-wide statement is that the most agencies fail to receive a clean opinion. T/F
5.An agency orders equipment for $1,000. The initial debit for the order should be to GL account 470000, Commitments. T/F
6.An agency would likely pay a vendor directly, by sending the vendor a debit card. T/F
7.Bi-weekly payroll is an example of a project.
8.On January 8, 2019, Acme Federal Agency gives Beta agency $1,000 for an Interagency Agreement. Beta does not perform any work initially (through January 8), and therefore receives an advance. Would Beta credit GL account 510000 OR 520000 for revenue on January 8, 2019? T/F