Cgfm exam 1 2023 - Study guides, Class notes & Summaries

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CGFM EXAM 3 2023 NEW PRACTICE SOLUTION GRDED A CORRECT ANSWERS.Three Broad Government Spending Purposes - 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 - Requires the head of each federal agency to establish and maintain I/C...

CGFM Exam 1 ALL Questions & Answers 2023/2024 doctrine of separation of powers provides a foundation for - ANSWER-government financial management govt entity can be classed as - ANSWER-general or special purpose US constitution written - ANSWER-1787 Most school district in US - ANSWER-Independent District Role of federal CFO - ANSWER-codified in the Chief Financial Officer act of 1990 telework - ANSWER-working from home or other remote location Anti-fraud policies - ANSWER...

CGFM Exam 2 - Section 1 Questions & Answers 2023/2024 Taxes - ANSWER-Resources for gov are derived primarily from Grants and shared revenues - ANSWER-Gobs receive revenue from other levels of gov through Budget - ANSWER-Primary control device in gov Financial reporting - ANSWER-Primary mechanism to demonstrate accountability Financial reports - ANSWER-Shows how much was raised, how it was spent, and whether spending followed the budget Performance reports - ANSWER-Inform user...

CGFM Exam 1 Questions & Answers 2023/2024 Federalism - ANSWER-Power is distributed among different levels of government, no one level has complete authority Sovereignty - ANSWER-National government cant be sued by states or citizens without its permission Popular Sovereignty - ANSWER-Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - ANSWER-Provide services to its citizens 10th Amendment - A...

CGFM Exam 1 question with correct answers latest 2023 rated A+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 Popular Sovereignty - correct answer Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - correct answer Provide...

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