Cgfm exam Study guides, Class notes & Summaries

CGFM EXAM 1 ALL

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 – Ans Wer- 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- a formal code of conduct Frames the...

CGFM EXAM 2 Study Guide (2023/2024) Rated A+ Non-Spendable Fund Balance Assets not in spendable form-Inventories and prepaid items, principal of a permanent fund which may not be spent, and assets held for sale and long-term receivables. Examples: Supplies, inventory, membership fees Restricted Fund Balance Subject to constraints imposed by external parties or law. Debt covenants (such as a requirement for a sinking fund) or constraints imposed by legislation or federal and state agencies, cred...

CGFM Exam 1 - Exam 1 Government Environment I-VII I1. A significant difference between special-purpose and general-purpose governments is that general-purpose governments - 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 - ANSWER-Correct Answer: jointly-governed organization. I3. A county commiss...

CGFM - Exam 1: Government Environment questions with correct answers

CGFM Exam 1 All Questions and Answers 100% Pass doctrine of separation of powers provides a foundation for government financial management govt entity can be classed as general or special purpose US constitution written 1787 Most school district in US Independent District Role of federal CFO codified in the Chief Financial Officer act of 1990 telework working from home or other remote location Anti-fraud policies a formal code of conduct frames the behavioral expectations for individuals ...

I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses the FIFO inventory valuation method, what was the cost of goods sold for jet fuel in fiscal year 2017? - ANSWER-Correct Answer: $133.50 I 2.In financial reporting, consistency of communication means - ANSWER-Correct Answer: if accounting principles have ...

CGFM Exam 1- Study Guide AGA - ANSWER-Association of Government Accountants CEAR - ANSWER-Certificate of Excellence in Accountability Reporting CFO - ANSWER-Chief Financial Officer CGFM - ANSWER-Certified Government Financial Manager ERP - ANSWER-Enterprise Resource Planning FASAB - ANSWER-Federal Accounting Standards Advisory Board FASB - ANSWE

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 - ANSWER-Aka - reserved Clause National government can...

CGFM Exam 2 | CGFM Exam 2 (2024) Questions With 100% Solved Answers!