Questions: The Federal Financial Management System Requirements (FFMSR) issued by the explain the mandatory functional and technical requirements that agency financial management systems must meet to be in compliance with the standards mandated by the Federal Financial Management Improvement Act. A) Department of Labor B) Department of the Treasury C) Department of Homeland Security D) Department of Defense

The Federal Financial Management System Requirements (FFMSR) issued by the explain the mandatory functional and technical requirements that agency financial management systems must meet to be in compliance with the standards mandated by the Federal Financial Management Improvement Act. A) Department of Labor B) Department of the Treasury C) Department of Homeland Security D) Department of Defense
Transcript text: The Federal Financial Management System Requirements (FFMSR) issued by the $\qquad$ explain the mandatory functional and technical requirements that agency financial management systems must meet to be in compliance with the standards mandated by the Federal Finanical Management Improvement Act. A) Department of Labor B) Department of the Treasury C) Department of Homeland Security D) Department of Defense
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Solution

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The answer is B) Department of the Treasury

Explanation
Option 1: Department of Labor

The Department of Labor primarily focuses on occupational safety, wage and hour standards, unemployment insurance benefits, reemployment services, and some economic statistics. It does not issue the Federal Financial Management System Requirements (FFMSR).

Option 2: Department of the Treasury

The Department of the Treasury is responsible for managing the federal finances, collecting taxes, paying bills, managing currency, government accounts, and public debt. It also oversees the development and implementation of financial management policies and systems, including the Federal Financial Management System Requirements (FFMSR).

Option 3: Department of Homeland Security

The Department of Homeland Security is focused on public security, dealing with anti-terrorism, border security, immigration and customs, cybersecurity, and disaster prevention and management. It does not handle the Federal Financial Management System Requirements (FFMSR).

Option 4: Department of Defense

The Department of Defense is responsible for military forces and ensuring national security. While it has its own financial management systems, it is not the agency that issues the Federal Financial Management System Requirements (FFMSR).

Therefore, the correct answer is the Department of the Treasury.

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