M26 Review

True or False: Overhead budget is automatically transferred and the amount is based on sponsored project expenditures.

• True

• False

True or False: When you pay salary on overhead, you must also pay fringes. 

• True

• False

What is the unspent money left over at the end of a fixed-price contract called?

• indirect

• overhead

• residual

• various

This is the "bucket of money" from the residual amount, which typically belongs to an individual faculty. It looks like a sponsored fund in Banner, and the balance rolls forward at year end.

• E&G fund

• overhead fund

• sponsored project fund

• various fund

What is the manual calculation to compare to the automatic posting that took place to calculate returned overhead?

• modified total direct cost

• proofing

• residual

What form must be used in order to initiate an agreement that differs from the default distribution for responsible organization on a project (each OSP fund)? 

By using this form departments agree to a new overhead distribution for a new project (fund) that differs from the default distribution that resides in Banner.

• Form A

• Form B

• Form C

What is the fund that will be charged if a sponsored project ends, and at a minimum how often should you reconcile this fund to ensure it has a zero balance?

• payroll kickout fund, once a year

• payroll kickout fund, bi-weekly

• returned overhead fund, once a year

• returned overhead fund, once a month

Who distributes PZRFNJL Banner report when an employee is charged to the payroll kickout fund?

• Payroll

• OSP

• Procurement

• OVPRI

A financial transaction that posts throughout the month based on that month’s direct expenses is called--

• indirect expense

• residual expense

• proofing

• overhead

The normal expenses like payroll, tuition, supplies, travel, equipment, services, subcontracts that apply to a specific research project are called--

• direct cost

• indirect cost

• residual

• proofing