Cgfm test 3 Study guides, Class notes & Summaries

CGFM TEST 3 EXAM/230 QUESTIONS AND ANSWERS/100% CORRECT

CGFM TEST 3 QUESTIONS & ANSWERS 2023/2024 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 mai...

CGFM TEST 3 QUESTIONS AND ANSWERS

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 Integrity...

Three Broad Government Spending Purposes - correct answer1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - correct answerDetermines 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 answerRequires the head of each federal agency to establish and maintain I/C's. Federal M...

CGFM Test 3 Latest 2023 Graded A+ A-76 Directive issued by OMB that establishes federal policy for the competition of commercial activities Abuse 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 process of researching, analyzing and evaluating old accounts in an accounting system to determine if they should be terminated or continued, and terminati...

CGFM TEST 3 QUESTIONS AND ANSWERS

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 Integrity...

CGFM TEST 3 QUESTIONS AND ANSWERS GRADED A Three Broad Government Spending Purposes 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components 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 Requires the head of each federal agency to establish and maintain I/C's. Federal Managers Financial...

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...