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CGFM Exam 1 Question and answers 2023 verified to pass Exam (elaborations) CGFM Exam 3: Section 5, Chapter 1 - What is an Audit? Question and answers already passed 2023 Exam (elaborations) CGFM Exam 2, Section 3 - Chapter 2: Federal Budgetary Accounting Question and answers 100% correct 2023 ...

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CGFM - Exam 1: Government Environment Questions with complete solution 2023

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CGFM - Exam 1: Government Environment Questions with complete solution 2023 Government Sovereignty - correct answer Nat'l government can't be sued by states or by citizens w/out its permission. Government Authority - correct answer Derived from constitutions or charters (local versions...

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CGFM Exam 1- Study Guide Question and answers rated A+ 2023

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CGFM Exam 1- Study Guide Question and answers rated A+ 2023 AGA - correct answer Association of Government Accountants CEAR - correct answer Certificate of Excellence in Accountability Reporting CFO - correct answer Chief Financial Officer CGFM - correct answer Certified Gove...

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CGFM TEST 2 Question and answers 100% correct 2023

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CGFM TEST 2 Question and answers 100% correct 2023 Governments exist to provide services - correct answer no profit motive, no single measure of success Primary funding source = - correct answer taxes (involuntary payments, because there is no ability to match services to those who provi...

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CGFM Exam 1 ALL Question and answers 2023 verified to pass

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CGFM Exam 1 ALL Question and answers 2023 verified to pass doctrine of separation of powers provides a foundation for - correct answer government financial management govt entity can be classed as - correct answer general or special purpose US constitution written - correct answer ...

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CGFM Exam 1 Question and answers correctly solved 2023

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CGFM Exam 1 Question and answers correctly solved 2023 Federalism - correct answer Power is distributed among different levels of government, no one level has complete authority Sovereignty - correct answer National government cant be sued by states or citizens without its permission ...

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CGFM Exam 3: Section 1, Chapter 7 - financial Management Systems Questions with complete solution 2023

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CGFM Exam 3: Section 1, Chapter 7 - financial Management Systems Questions with complete solution 2023 Financial management systems - correct answer information systems that support financial managers in accomplishing their tasks and achieving their objectives data visualization - correct ...

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CGFM Exam: Section 1, Chapter 1 Question and answers rated A+ 2023

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CGFM Exam: Section 1, Chapter 1 Question and answers rated A+ 2023 Difference between a budget in public vs. private sector? - correct answer Public sector = Law/Private sector = benchmark for performance and goals for growth Primary control device in Govt? - correct answer budget Fin...

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CGFM Test 3 Question and answers 100% correct 2023

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CGFM Test 3 Question and answers 100% correct 2023 A-76 - correct answer Directive issued by OMB that establishes federal policy for the competition of commercial activities Abuse - correct answer behavior that is deficient or improper when compared with behavior that a prudent person wo...

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CGFM Exam 3 - Financial Management Functions Question and answers already passed 2023

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CGFM Exam 3 - Financial Management Functions Question and answers already passed 2023 Prompt Payment Act - correct answer A federal law that requires federal agencies to pay interest to companies on bills not paid within 30 days of invoice or completion of work. Cash Management Improvement ...

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CGFM III Question and answers 2023 verified to pass

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CGFM III Question and answers 2023 verified to pass Cash Management Improvement Act 1990 - correct answer Improve the transfer of federal funds 31 CFR Part 208 Management of Federal Agency Disbursements - correct answer Requires EFT payments Cash Management - correct answer 1) mutu...

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CGFM Exam #2 - Governmental Accounting Question and answers correctly solved 2023

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CGFM Exam #2 - Governmental Accounting Question and answers correctly solved 2023 Reasons Governments are not Run Like Businesses - correct answer 1) Goals and objectives differ considerably from those in the private sector. 2) Exists to provide services, not gain profits. 3) Goals and objec...

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CGFM EXAM 2 Question and answers correctly solved 2023

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CGFM EXAM 2 Question and answers correctly solved 2023 Special assessments are used to ensure that - correct answer individuals benefiting from the project are the ones who will pay for it imputed costs - correct answer costs incurred by a federal entity for goods and services provided a...

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CGFM EXAM 2 Study Question and answers rated A+ 2023

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CGFM EXAM 2 Study Question and answers rated A+ 2023 Non-Spendable Fund Balance - correct answer Assets not in spendable form-Inventories and prepaid items, principal of a permanent fund which may not be spent, and assets held for sale and long-term receivables. Examples: Supplies, inventory, ...

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CGFM Exam 2 - Section 2, Chapter 2 - Fund Accounting and Reporting Question and answers 100% correct 2023

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CGFM Exam 2 - Section 2, Chapter 2 - Fund Accounting and Reporting Question and answers 100% correct 2023 GASB Codification Section 1300 - correct answer Establish the foundational accounting and reporting standards for state and local FUNDS Fund - correct answer Funds are fiscal and acc...

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CGFM Exam 2 - Section 1 Question and answers already passed 2023

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CGFM Exam 2 - Section 1 Question and answers already passed 2023 Taxes - correct answer Resources for gov are derived primarily from Grants and shared revenues - correct answer Gobs receive revenue from other levels of gov through Budget - correct answer Primary control device in g...

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CGFM Exam 3: Section 1, Chapter 3 - credit management Question and answers 2023 verified to pass

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what action results in the govt becoming the collector of a guaranteed loan? A government agency becomes a collector of a guaranteed loan if the borrower fails to make payments on the loan to the lending institution. In these cases, the gov

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CGFM Exam 1 Question and answers correctly solved 2023

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CGFM Exam 1 Question and answers correctly solved 2023 what action results in the govt becoming the collector of a guaranteed loan? A government agency becomes a collector of a guaranteed loan if the borrower fails to make payments on the loan to the lending institution. In these cases, the gov ...

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CGFM Exam 2 Question and answers correctly solved 2023

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CGFM Exam 2 Question and answers correctly solved 2023 I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses th...

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CGFM exam 3: Section 3, Chapter 1 - Internal Controls Questions with complete solution 2023

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CGFM exam 3: Section 3, Chapter 1 - Internal Controls Questions with complete solution 2023 Federal laws on internal controls began with? - correct answer Budget and Accounting Procedures Act of 1950, which requires each federal agency head to establish and maintain internal controls. Feder...

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CGFM Exam 2 - Section 3 Question and answers rated A+ 2023

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CGFM Exam 2 - Section 3 Question and answers rated A+ 2023 Formulation of the President's Budget Congressional action on budget Budget execution - correct answer Phases of budget process Four - correct answer Budget covers how many years following the budget year to show effect of bud...

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CGFM Exam 2, Section 3 - Chapter 2: Federal Budgetary Accounting Question and answers 100% correct 2023

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CGFM Exam 2, Section 3 - Chapter 2: Federal Budgetary Accounting Question and answers 100% correct 2023 Exec Branch central financial management agencies - correct answer (1) OMB and (2) the Dept of Treasury OMB - correct answer OMB's predominant mission is to assist the president in ov...

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CGFM Exam 3: Section 5, Chapter 1 - What is an Audit? Question and answers already passed 2023

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CGFM Exam 3: Section 5, Chapter 1 - What is an Audit? Question and answers already passed 2023 Audit definition - correct answer an independent, systematic, objective and unbiased assessment that provides answers to a set of questions. "Material" meaning - correct answer use "material...

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CGFM Exam 1 Question and answers 2023 verified to pass

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CGFM Exam 1 Question and answers 2023 verified to pass Reserved Clause - correct answer Governmental powers reserved for the states and the people by the Tenth Amendment of the U.S. Constitution. Commissions - correct answer special-government components (created through law or statue) t...

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