CDFM - Module 3 Exam Questions and
Answers 100% Solved | Rated A+
What are the three tests that must be met for use of the Necessary
Expense doctrine? - Must bear a logical relationship
Not prohibited by law
Not funded elsewhere
(p 3.1.17)
Who grants relief of liability to a certifying offic...
What term is used to describe Federal Government funds that have been
paid but have not yet been identified to a specific organization? -
✔✔Undistributed Disbursement
(p. 3.3.39)
The aggregate amount of an entity's funds in the Treasury is in what
account? - ✔✔Fund Balance with Treasury
(p. 3.3.39)
Which three Federal agencies established the FASAB? - ✔✔The
Government Accountability Office (*GAO*),
the Department of Treasury, and
the Office of Management and Budget (*OMB*)
(p. 3.3.13)
What is the Federal law that specifically required existing CFO agencies to
have financial statements that successfully pass a financial audit? - ✔✔The
Government Management Reform Act of 1994
(p. 3.4.5)
Which standards generally apply to all Federal Government audits? -
✔✔GAO Standards or GAGAS
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