Cgfm test 3 stuvia Study guides, Class notes & Summaries
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CGFM TEST 3 Questions With Correct Answers
- Exam (elaborations) • 47 pages • 2024
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Three Broad Government Spending Purposes - Answer 1) Current Operations 
2) Capital Outlays 
3) Debt Service 
 
Present Value Analysis - Three Components - Answer Determines what $$ Rec'd in Future is Worth Today 
 
1) inflation component - year over year loss in value 
2) enterprise component - inherent risk 
3) unique component - 
 
Budget Accounting and Procedures Act of 1950 - Answer Requires the head of each federal agency to establish and maintain I/C's. 
 
Federal Managers Financial Int...
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CGFM Test 3 Questions & Answers Correct 100%
- Exam (elaborations) • 13 pages • 2024
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A-76 - Answer Directive issued by OMB that establishes federal policy for the competition of commercial activities 
 
Abuse - Answer behavior that is deficient or improper when compared with behavior that a prudent person would consider reasonable and necessary business practice given the facts and circumstances 
 
Account cleanup - Answer process of researching, analyzing and evaluating old accounts in an accounting system to determine if they should be terminated or continued, and terminating ...
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