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Posted: September 10th, 2019
allowable expenses, accounting homework help
Question description
Are the following allowable expenses (please list Yes or No
clearly - such as, "Yes, this is allowable, because___)? Why or why
not?
a) An
agency decides to award a vendor $1,000,000 to perform accounting services on a
one-year appropriation. The appropriation is for Fiscal year 2014.
The award is made on October 2, 2014. The appropriation allows using the
funds for accounting services.
b) For
a no-year appropriation, could the agency start a new obligation starting on
October 24, 2015? The obligation would be for goods/services that would
be a use listed in the appropriation, and would be above the amount remaining
on the appropriation.
c) An
agency has a multi-year appropriation, from Beg. Budget Fiscal Years
2012-Budget Year 2014. The agency awarded a vendor a contractor on
October 1, 2013 for an item listed in the appropriation. The vendor identified
an invoice for work performed in November 2013, and requested payment on
January 5, 2015. Is the payment allowable?
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