Which OMB Circular deals with Prep and Submission of BESs?

Study for the Certified Defense Financial Manager (CDFM) Exam 1. Engage with flashcards and multiple choice questions, with hints and explanations for each query. Prepare confidently for your exam!

Multiple Choice

Which OMB Circular deals with Prep and Submission of BESs?

Explanation:
The main idea is knowing which OMB guidance governs how agencies prepare and submit Budget Estimate Submissions (BESs) as part of the budget process. The circular that specifically covers this area—setting the policy, formats, timing, and submission procedures for BESs to OMB—is the one that addresses the entire budget process from preparation through execution. That makes it the correct choice. The other circulars deal with different topics: one focuses on public-private competitions, another on internal controls and accountability, and another on cost principles. None of those prescribe BES preparation and submission, so they don’t fit the question.

The main idea is knowing which OMB guidance governs how agencies prepare and submit Budget Estimate Submissions (BESs) as part of the budget process. The circular that specifically covers this area—setting the policy, formats, timing, and submission procedures for BESs to OMB—is the one that addresses the entire budget process from preparation through execution. That makes it the correct choice. The other circulars deal with different topics: one focuses on public-private competitions, another on internal controls and accountability, and another on cost principles. None of those prescribe BES preparation and submission, so they don’t fit the question.

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