CGFM Test 1 Terms UPDATED ACTUAL
Exam Questions and CORRECT Answers
AFR - CORRECT ANSWER - Agency Financial Report
AGA - CORRECT ANSWER - Association of Government Accountants
BFELoB - CORRECT ANSWER - Budget Formulation and Execution Line of Business
CAFR - CORRECT ANSWER - Comprehensive Annual Financial Report
CEAR - CORRECT ANSWER - Certificate of Excellence in Accountability Reporting
CFO - CORRECT ANSWER - Chief Financial Officer
CGFM - CORRECT ANSWER - Certified Government Financial Manager
ERP - CORRECT ANSWER - Enterprise Resource Planning
FASAB - CORRECT ANSWER - Federal Accounting Standards Advisory Board
FASB - CORRECT ANSWER - Financial Accounting Standards Board
GAAP - CORRECT ANSWER - Generally Accepted Accounting Principles
GAAS - CORRECT ANSWER - Generally Accepted Auditing Standards
, GAGAS - CORRECT ANSWER - Generally Accepted Government Auditing Standards
GAO - CORRECT ANSWER - Government Accountability Office
GAS - CORRECT ANSWER - Government Auditing Standards
GASB - CORRECT ANSWER - Governmental Accounting Standards Board
GPRA - CORRECT ANSWER - Government Performance and Results Act
GPRAMA - CORRECT ANSWER - Government Performance and Results Act
Modernization Act
MD&A - CORRECT ANSWER - Management Discussion and Analysis
NIST - CORRECT ANSWER - National Institute of Standards and Technology
OMB - CORRECT ANSWER - Office of Management and Budget
PAR - CORRECT ANSWER - Performance and Accountability Report
SEA - CORRECT ANSWER - Service Efforts and Accomplishments
SPFI - CORRECT ANSWER - Summary of Performance and Financial Information
Accountability - CORRECT ANSWER - In a democracy, government operates by the consent
of the people. It must answer to, the people for its actions and results, including the taking and
using of people's resources
Exam Questions and CORRECT Answers
AFR - CORRECT ANSWER - Agency Financial Report
AGA - CORRECT ANSWER - Association of Government Accountants
BFELoB - CORRECT ANSWER - Budget Formulation and Execution Line of Business
CAFR - CORRECT ANSWER - Comprehensive Annual Financial Report
CEAR - CORRECT ANSWER - Certificate of Excellence in Accountability Reporting
CFO - CORRECT ANSWER - Chief Financial Officer
CGFM - CORRECT ANSWER - Certified Government Financial Manager
ERP - CORRECT ANSWER - Enterprise Resource Planning
FASAB - CORRECT ANSWER - Federal Accounting Standards Advisory Board
FASB - CORRECT ANSWER - Financial Accounting Standards Board
GAAP - CORRECT ANSWER - Generally Accepted Accounting Principles
GAAS - CORRECT ANSWER - Generally Accepted Auditing Standards
, GAGAS - CORRECT ANSWER - Generally Accepted Government Auditing Standards
GAO - CORRECT ANSWER - Government Accountability Office
GAS - CORRECT ANSWER - Government Auditing Standards
GASB - CORRECT ANSWER - Governmental Accounting Standards Board
GPRA - CORRECT ANSWER - Government Performance and Results Act
GPRAMA - CORRECT ANSWER - Government Performance and Results Act
Modernization Act
MD&A - CORRECT ANSWER - Management Discussion and Analysis
NIST - CORRECT ANSWER - National Institute of Standards and Technology
OMB - CORRECT ANSWER - Office of Management and Budget
PAR - CORRECT ANSWER - Performance and Accountability Report
SEA - CORRECT ANSWER - Service Efforts and Accomplishments
SPFI - CORRECT ANSWER - Summary of Performance and Financial Information
Accountability - CORRECT ANSWER - In a democracy, government operates by the consent
of the people. It must answer to, the people for its actions and results, including the taking and
using of people's resources
