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4-51.
When trade-inn are involved, the
discount taken will be on which of
the following amounts?
1.
The net contract price
2.
The gross contract price
3.
The net contract price less
taxes and freight
4.
The gross contract price less
taxes and freight
4-52.
Discounts will be computed on any
amount approved for payment without
regard for all except which of the
following conditions?
1.
Offsets for liquidated damages
2.
Offsets for duplicate payments
3.
Transportation charges for
items priced on an f.o.b basis
4.
Offsets for interest on advance
payments
4-53.
A discount is considered cost
effective when the savings are
equal to at least what amount?
1.
$15
2.
$20
3.
$25
4.
$50
4-54.
A discount that has a rate which is
less than the rate at which the
Treasury can borrow money but
involves more than $100 will be
accepted.
1.
True
2.
False
4-55.
When is the official Treasury rate
for borrowing funds published?
1.
January and July
2.
October and April
3.
Quarterly
4.
Annually in October
4-56.
When there is a question as to
whether a discount should be taken,
which of the following actions
should the disbursing officer take?
1.
Take the discount
2.
Do not take the discount
3.
Contact the vendor for
clarification
4.
Return the voucher to the
preparing officer for
resolution
4-57.
A dealer’s bill offers a discount
of "5% 15 days net 30,” the invoice
date is 12 December end is received
on 17 December.
What is the annual
percentage rate for this discount
(rounded to a whole number)?
1.
7
2.
8
3.
9
4. 10
4-58.
When a vendor protests a discount
taken that cannot be refunded by
the disbursing officer, to which of
the following agencies is the claim
forwarded for settlement?
1.
The servicing FIPC
2.
DFAS-CL
3.
Treasury
4. GAO
4-59.
Which of the following officers is
responsible for making sure bills
involving discounts are paid
promptly?
1.
Receiving
2.
Preparing
3.
Disbursing
4.
All of the above
4-60.
When a discount is lost, the bill
should be paid using which of the
following provisions?
1.
Immediately upon discovery
2.
Within 3 business days of
discovery
3.
With other bills not offering a
discount
4.
By the end of the month
4-61.
A record of discounts lost because
of circumstances beyond the Navy’s
control will not be maintained.
1.
True
2.
False
4-62.
A discount of $750 was lost on a
dealer’s bill that was in the
disbursing office.
The lost
discount would not be considered
the fault of the disbursing officer
unless the voucher was received at
least how many working days before
the expiration date?
1. 1
2. 2
3. 3
4. 4
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