Cgfm exam 5 - Study guides, Class notes & Summaries

CGFM Exam Section 5 Questions with Complete Solutions

CGFM Exam Section 5 Questions with Complete Solutions

CGFM Exam 3: Section 5, Chapter 1 - What is an Audit? Question and answers already passed 2023 Audit definition - correct answer an independent, systematic, objective and unbiased assessment that provides answers to a set of questions. "Material" meaning - correct answer use "material" in the context of whether reasonable people would consider that an omission or misstatement would have changed their opinions regarding the auditor's conclusions. Which Agency issued the Genera...

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 Exam Section 5, Chapter 1 - What is an Audit? Exam Questions and Answers

CGFM Exam Section 5, Chapter 1 - What is an Audit? Exam Questions and Answers

CGFM Exam Section 5 Questions with Complete Solutions

CGFM Exam Section 5 Questions with Complete Solutions

CGFM EXAM 2(graded A+)CORRECTLY ANSWERED fully solvedSpecial assessments are used to ensure that - correct answer individuals benefiting from the project are the ones who will pay for it imputed costs - correct answer costs incurred by a federal entity for goods and services provided and paid for in total, or in part, by other federal entities Accumulated Depreciation is which type of account - correct answer contra asset Preferred Costing Methodology - correct answer Directly tracing c...

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...