FORMULATION EXAM: Introduction to Budgeting Exam. Which one of the following best describes the purpose of the P-3a budget exhibit

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FORMULATION EXAM: Introduction to Budgeting Exam 1) In late December, the Components revise their final budgets and begin preparing supporting documentation to incorporate the effects of all Resourc... e Management Decisions (RMDs) for inclusion in the President's Budget. True False 2) Advanced Procurement funding information shown on the P-5 budget exhibit should be consistent with that shown on the _________ budget exhibit. P-10 (Advanced Procurement Requirements Analysis) P-3a (Individual Modification) P-1 (Procurement Program) P-21 (Production Schedule) 3) Which one of the following best describes the purpose of the P-3a budget exhibit? Provide budget justification for a particular Procurement line item Provide detailed information regarding monthly production of ACAT I program items Summarize the funding requirements for a particular Procurement appropriation account Provide budget justification for a particular Procurement-funded weapon system modification program 4) The President's Budget that is submitted to Congress on the first Monday in February is for fiscal year that will begin _____. The current fiscal year Two years out In eight months (i.e., 1 October) Four years out 5) Which one of the following best describes the conditions under which a P-1 budget exhibit is required to be submitted? This study source was downloaded by 100000823742721 from CourseHero.com on 07-03-2022 01:04:02 GMT -05:00 https://www.coursehero.com/file/30218576/FORMULATION-EXAM-Introduction-to-Budgeting-Examdocx/When the program element funding is $1 million or more in any budget year covered by the budget request When any funding is requested under a particular Procurement appropriation When the line item funding is $5 million or more in any of the budget years covered by the budget request When it covers a weapon system modification program whose costs exceed $5 million in any year covered by the budget request 6) Which one of the following best describes the conditions under which an R-4 budget exhibit is required to be submitted? When a major program milestone is scheduled to occur during any budget year covered by the budget request When any funding is requested for a project that is part of a program element in RDT&E budget activities 1, 2, or 3 When a project is part of a program element in RDT&E budget activities 4, 5, or 7 and requires $5 million or more of funding in any budget year covered by the budget request When a project is part of a program element in RDT&E budget activities 4, 5, or 7 and requires $1 million or more of funding in any budget year covered by the budget request [Show More]

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