Cgfm exam 1 b Study guides, Class notes & Summaries

CGFM Exam 1 B

CGFM Exam 1 B

CGFM Exam 1 B

CGFM TEST 1 EXAM 2024 WITH 100% CORRECT ANSWERS Compare and contrast the concepts of "government sovereignty" and "popular sovereignty" - correct answer Gov sov means the national gov can't be sued by states or citizens without its permission. Pop sov means citizens hold ultimate authority through the ballot and is accountable to citizens. What is the implication of the "reserved clause" in the 10th ammendment? - correct answer Powers not delegated to the nat gov, nor prohibited to ...

CGFM Exam 2 - Section II Accounting and Reporting for State and Local Governments 2023/2024 The reporting model for state and local governments focuses only on fiscal accountability. True or false? - ANSWER-False. The reporting model focuses on both fiscal accountability, through fund-level reporting, and operational accountability, through government-wide reporting. Describe how financial reporting can assist in fulfilling government's duty to be publicly accountable. - ANSWER-Financia...

CGFM Exam 3: Section 1, Chapter 4 - Acquisition Management Questions and Answers Graded A The four basic phases in acquiring goods and services are? 1) establishing specifications 2) soliciting supply sources 3) awarding contracts 4) monitoring contractor performance 2 basic methods for soliciting potential contractors (1) formal advertising through invitations for bid (IFB) and (2) a less formal solicitation through requests for proposal (RFP). The method that is used largely depends on whethe...

CGFM Exam: Section 1, Chapter 1 Questions and Answers Already Passed Difference between a budget in public vs. private sector? Public sector = Law/Private sector = benchmark for performance and goals for growth Primary control device in Govt? budget Financial Reports primary mechanism by which public officials are able to demonstrate accountability. They show how much was raised, how it was spent, and whether spending was in compliance with the budget. State Authority All the powers not set f...

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...

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...