The Following Transactions and Events Were Selected from a Federal $\underline{\text{ Transactions: }}$

question 16

Essay

The following transactions and events were selected from a federal agency. All amounts are in millions of dollars.

$\underline{\text{ Transactions: }}$
1. Received a warrant from Treasury for its appropriation for the fiscal year, $300.
2. The OMB apportioned $80 to the agency.
3. The agency head allotted $79 to specific purposes.
4. Preliminary requests were made within the agency for the purchase of $8 in supplies.
5. Purchase orders were approved and placed for the $8 of supplies requested.
6. Salaries of $40 were paid to agency employees.
7. Equipment with an estimated cost of $17 was ordered.
8. The equipment was received along with an invoice for its $17 cost.

$\underline{\text{ Requirement: }}$ Prepare the entries a federal agency should make to record these transactions and events.

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Definitions:

Queue Disciplines

The rules or policies that determine the order in which entities (like people or data packets) are served in waiting line systems.

Finite Population

A population set that contains a limited number of elements or individuals, making it possible to examine each member of the population in a study.

Arrivals

The process or count of items, people, or entities reaching a destination or entering a system at a particular time.

Little's Law

A fundamental principle in queueing theory stating that the long-term average number of items in a queuing system is equal to the long-term average effective arrival rate multiplied by the average time an item spends in the system.