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

CGFM Exam 2 - Governmental Accounting (2023/2024) Already Graded A Reasons Governments are not Run Like Businesses 1) Goals and objectives differ considerably from those in the private sector. 2) Exists to provide services, not gain profits. 3) Goals and objectives are sometimes established with input from the public. 4) Resources are derived primarily from taxes; there are no shareholders. 5) No single measure of success; can't use increasing market share, earnings per share, or the fact that ...

CGFM Exam 2, Section 3 - Chapter 2: Federal Budgetary Accounting 2023/2024 Exec Branch central financial management agencies - ANSWER-(1) OMB and (2) the Dept of Treasury OMB - ANSWER-OMB's predominant mission is to assist the president in overseeing the preparation of the federal budget and to supervise its administration by the executive branch agencies. OMB provides guidance in what forms? - ANSWER-Mainly with Circulars and Bulletins, but also with Memorandums OMB circulars - A...

CGFM Exam 1 questions with correct answers(graded A+)2023 updatedReserved 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) that may be permanent or temporary. They enjoy more autonomy compared to other government components Popular Sovereignty - correct answer A government in which the people rule by their own consent....

CGFM Exam 1 Questions with Complete Solutions 2023 (Definite Pass)

CGFM Study Exam 1 (rated A+) correctly answered 2023 Federalism - correct answer 1. Power is distributed among different lvls of Gov't 2. A legal relationship with power distributed among different levels of gov't 3. No lvl of gov't has complete authority over all areas of public policy 4. Results in no centralized system of gov't in US Complex relationships between the Federal, State, and Local Gov'ts, distributed authorities, rather than a centralized command and control system is...

CGFM Exam 1 Questions with Complete Solutions 2023 (Definite Pass)

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 of a constitution), statutes, executive orders & regulations. 3 Levels - Correct answer-1) National 2) State 3) Local The primary purpose of each is to provide services to citizens. Separate and distinct, yet they may coordinate their efforts. 3 Branches - Correct answer-1) Leg...

CGFM - Exam 1: Government Environment Questions with 100% Correct Answers 2023/2024

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-1787 Most school district in US - Correct answer-Independent District Role of federal CFO - Correct answer-codified in the Chief Financial Officer act of 1990 telework - Correct answer-working from home or other remote location Anti-fraud policies - Correct answer-a for...