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CGFM TEST 3 exam 2022/2023 with 100% correct answers
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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 Integrity Act o...
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CGFM EXAM 2 2022/2023 with 100% correct answers
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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, creditors, contributors or granting agenc...
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CGFM BUNDLED EXAMS 2 2022/2023 with 100% correct answers
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CGFM EXAM 2 2022/2023 with 100% correct answers
CGFM Exam 3 - Financial Management Functions exam 2022/2023
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CGFM Exam 2 | CGFM Exam 2 (2024) Questions With 100% Solved Answers!
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CGFM Exam 2 | CGFM Exam 2 (2024) Questions With 100% Solved Answers!
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CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS
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CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS 
 
 
Federalism - correct answer Power is distributed among different levels of government, no one level has complete authority 
 
Sovereignty - correct answer National government cant be sued by states or citizens without its permission 
 
Popular Sovereignty - correct answer Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens 
 
Primary Purpose of Government - correct answer Provide services to i...
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CGFM Exam 1 Complete Questions And Answers | 2024 Latest Quiz
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CGFM Exam 1 Complete Questions And Answers | 2024 Latest Quiz 
 
CGFM Exam 1 Complete Questions And Answers | 2024 Latest Quiz
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CGFM TEST 3 Questions And Answers With Verified Study Solutions
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CGFM TEST 3 Questions And Answers With Verified Study Solutions 
 
CGFM TEST 3 Questions And Answers With Verified Study Solutions
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CGFM TEST 1 EXAM 2024 WITH 100% CORRECT ANSWERS
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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 ...
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CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS
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CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS 
 
 
I1. A significant difference between special-purpose and general-purpose governments is that general-purpose governments - correct 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 - correct answer Correct Answer: jointly-governed organization. 
 
I3. A c...
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CGFM Exam 1 ALL Q&A
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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...
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