Cgfm exam 7 - Study guides, Class notes & Summaries

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 Final Exam 2023 I1. A significant difference between special-purpose and general-purpose governments is that general-purpose governments - CORRECT ANSWER-Correct Answer: perform multiple functions, while special-purpose governments are typically formed to perform one or two specific functions. I2. A commission that manages water and sewer services for several counties is an example of a - CORRECT ANSWER-Correct Answer: jointly-governed organization. I3. A county commission meets ...