Cgfm exam 7 - Study guides, Class notes & Summaries

CGFM TEST 1 EXAM 2024 WITH 100% CORRECT ANSWERS Compare and contrast the concepts of "government sovereignty" and "popular sovereignty" - correct answer Gov sov means the national gov can't be sued by states or citizens without its permission. Pop sov means citizens hold ultimate authority through the ballot and is accountable to citizens. What is the implication of the "reserved clause" in the 10th ammendment? - correct answer Powers not delegated to the nat gov, nor prohibited to ...

CGFM exam 7 Question and answers rated A+ 2023

CGFM Exam 3: Section 1, Chapter 7 - financial Management Systems Answered Correctly!!

CGFM TEST 2 SECTION 2- CHAPTER 1. Exam Questions and answers/ rated A+ FINANCIAL REPORTING SHOULD PROVIDE INFORMATION TO DETERMINE WHETHER THE ENTITY'S FINANCIAL POSITION IMPROVED OR DETERIORATED AS A RESULT OF THE YEAR'S OPERATIONS. TRUE THE GOVERNMENT ACCOUNTING STANDARDS BOARD WAS ESTABLISHED BY THE FINANCIAL ACCOUNTING FOUNDATIONS BOARD OF TRUSTEES (FAF). THE BOARD HAS 7 MEMBERS FOR A 5 YEAR TERM GASB = only state and local government HOWEVER NOT REQUIRED THE AICPA HAS RECOGNI...

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 ...

Financial management systems - Answer information systems that support financial managers in accomplishing their tasks and achieving their objectives data visualization - Answer the creation and study of the visual representation of data, meaning information that has been abstracted in some schematic form, including attributes or variables for the units of information. data visualization can serve what purposes - Answer •Strategic - They focus on high-level measures of performance and fo...

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 answer the creation and study of the visual representation of data, meaning information that has been abstracted in some schematic form, including attributes or variables for the units of informat...

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 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 sh...

CGFM Practice Exam Test 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 provide the resource) Budget process = - CORRECT ANSWER-primary control device in government US Constitution provides two levels of government - CORRECT ANSWER-Federal and State State consitituions similar in that each defines t...

CGFM Exam #2 - Governmental Accounting fully solved graded A+ 2023Reasons 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 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 shar...