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CGFM Exam 1- Study Guide with Complete Solutions

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CGFM Exam 1- Study Guide with Complete Solutions AGA - Correct Answer️️ -Association of Government Accountants CEAR - Correct Answer️️ -Certificate of Excellence in Accountability Reporting CFO - Correct Answer️️ -Chief Financial Officer CGFM - Correct Answer️️ -Certified Government Financial Manager ERP - Correct Answer️️ -Enterprise Resource Planning FASAB - Correct Answer️️ -Federal Accounting Standards Advisory Board FASB - Correct Answer️️ -Financial Acco...

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CGFM - Exam 1: Government Environment Questions and Answers 100% Pass

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CGFM - Exam 1: Government Environment Questions and Answers 100% Pass Government Sovereignty - Correct Answer️️ -Nat'l government can't be sued by states or by citizens w/out its permission. Government Authority - Correct Answer️️ -Derived from constitutions or charters (local versions of a constitution), statutes, executive orders & regulations. 3 Levels - Correct Answer️️ -1) National 2) State 3) Local The primary purpose of each is to provide services to citizens. Separ...

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CGFM Test 1 100% Correct Solved

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CGFM Test 1 100% Correct Solved Accountability - Correct Answer️️ -Principle that, in a democracy, government operates by the consent of the people. Therefore, it is responsible to, and must answer to, the people for its actions and results, including the taking and using of the people's resources Allotment - Correct Answer️️ -In the federal government, an agency's distribution of apportioned budgetary authority to various components within the agency. After the executive agency...

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CGFM TEST 3 100% CORRECT

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CGFM TEST 3 100% CORRECT Three Broad Government Spending Purposes - Correct Answer️️ -1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - Correct Answer️️ -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 - Correct Answer️️ -Requires the head of each federal agency...

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CGFM EXAM 2 Study Questions and Answers 100% Pass

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CGFM EXAM 2 Study Questions and Answers 100% Pass Non-Spendable Fund Balance - Correct Answer️️ -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 - Correct Answer️️ -Subject to constraints imposed by external parties or law. Debt covenants (such as a requirement for a sinking fund) or constrain...

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CGFM Exam 1 Questions and Answers 100% Verified and Updated

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CGFM Exam 1 Questions and Answers 100% Verified and Updated Federalism - Correct Answer️️ -Power is distributed among different levels of government, no one level has complete authority Sovereignty - Correct Answer️️ -National government cant be sued by states or citizens without its permission Popular Sovereignty - Correct Answer️️ -Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - Corr...

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