Identify the purpose of a Disclosure Statement Contractor receives a CAS

Identify the purpose of a disclosure statement

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[Identify the purpose of a Disclosure Statement] Contractor receives a CAS covered contract or a subcontract valued at $50M in a cost accounting period Contractor receives a contract valued at $7.5M or greater Anytime a cost reimbursement contract is awarded Anytime a sole-source contract is awarded 29) A cost is allowable if it is: [Determine if a cost is allowable] Reasonable, allocable and compliant with CAS/GAAP Established, disclosed and allocated Page 6 of 12 DAU 9/27/2017
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According to the terms and conditions of the contract, compliant with CAS/GAAP and certified to be accurate, current and complete Consistent, uniform, and reasonable 30) A contractor incurs costs for raw materials to be used in two different government contracts. Is the total value of this raw material allocable to one contract? [Determine if a cost is allocable] No, material must be used and charged specifically to the benefiting contract Yes, because all the material is to be used for government contracts Yes, due to the efficiency gained by procuring all the material at one time No, raw material is always charged as an overhead expense 31) A contractor submits a cost proposal and includes irrefutable evidence that their proposed costs are exactly what they would incur. Which of the following determinations concerning reasonableness is correct? [Determine if a cost is reasonable] The government assumes no presumption of reasonableness to the incurrence of costs by a contractor The proposed costs are considered reasonable unless the Government can prove otherwise There is no argument as the proposed costs are clearly allowable Irrefutable proof of actual costs shall be accepted by the Government as reasonable 32) The pre-negotiation objective establishes the government's initial negotiation position and assists the contracting officer in determining a fair and reasonable price. How does proposal modeling assist the contracting officer in achieving these objectives? (Choose all that apply) [Identify the rationale for modeling a contractor’s cost proposal] Validates the contractor's computations Facilitates update of pre-negotiation position upon receipt of updates from the contractor (e.g. updated quotes, subcontractor submissions, change in rates) Validates the contractor's proposal summary with detailed back-up data worksheets Allows real time calculation of offers and counteroffers during negotiations 33) When is it most appropriate to document or model a contractor’s proposal? [Identify the required cost elements in FAR Table 15-2] When the value, importance, and complexity warrant When analyzing multiple commercial supply proposals Anytime you award a competitive contract Whenever there are values in excess of $1M included in the proposal 34) The cost accounting systems that are used by a contractor manufacturing a number of identical units for multiple customers are: [Identify the two commonly used systems for cost accounting]
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