AGA - FANTASTIC CGFM - LATEST CERTIFIED GOVERNMENT FINANCIAL MANAGER (CGFM) DUMPS SHEET

AGA - Fantastic CGFM - Latest Certified Government Financial Manager (CGFM) Dumps Sheet

AGA - Fantastic CGFM - Latest Certified Government Financial Manager (CGFM) Dumps Sheet

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Tags: Latest CGFM Dumps Sheet, Valid Braindumps CGFM Sheet, Vce CGFM Free, New CGFM Dumps Files, Valid Braindumps CGFM Book

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AGA CGFM Exam is an important certification for professionals working in government financial management. CGFM exam tests a candidate's knowledge of government financial management, and is designed to ensure that CGFM holders are able to demonstrate their expertise and professionalism. If you are interested in pursuing a career in government financial management, the AGA CGFM Exam is a great way to demonstrate your knowledge and skills in this important field.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q102-Q107):

NEW QUESTION # 102
An ISF has the following capital equipment in service for the stated time. Based upon the information below, using the straight-line method, what should be charged for depreciation at year-end?

  • A. $4,267
  • B. $8,155
  • C. $2,171
  • D. $6,438

Answer: D


NEW QUESTION # 103
Commercial banks issue ______________ which give local governments the money to refinance or refund debt at a lower interest rate.

  • A. (LOCs) Letters of credit
  • B. State Bonds
  • C. SO Bonds
  • D. GO Bonds

Answer: A

Explanation:
Explanation/Reference:


NEW QUESTION # 104
The best source for annual liability and cash flow data is a state's

  • A. ACFR.
  • B. PAR.
  • C. statement of activities.
  • D. appropriations bill.

Answer: A

Explanation:
* Annual Comprehensive Financial Report (ACFR):
* TheACFR(formerly CAFR) is the primary source for a state's annual financial information, including liability and cash flow data.
* It provides comprehensive financial statements, including the balance sheet, statement of activities, and cash flow statements.
* Explanation of Answer Choices:
* A. PAR: ThePerformance and Accountability Report (PAR)focuses on federal agencies and includes performance goals and achievements but lacks detailed liability and cash flow data for states.
* B. ACFR: Correct. The ACFR is the best source for detailed liability and cash flow data at the state level.
* C. Appropriations bill: Provides legislative authority for spending but does not include detailed financial data.
* D. Statement of activities: This is part of the ACFR but does not include all necessary cash flow or liability data.
References:
* Government Finance Officers Association (GFOA),Best Practices for ACFR Reporting.
* GASB,Annual Comprehensive Financial Report Guidance.


NEW QUESTION # 105
Managerial accounting helps officials measure the cost-effectiveness of operations by:

  • A. forecasting future revenue needs.
  • B. demonstrating compliance with applicable laws and regulations.
  • C. combining financial and non-financial data.
  • D. controlling expenses under budgetary law.

Answer: A


NEW QUESTION # 106
Which action represents an internal control deficiency in an agency responsible for building and maintaining dams?

  • A. The agency inspects the completed work to assure compliance with the contract specifications.
  • B. The agency releases the contractor's bond only after assuring that all work is performed satisfactorily.
  • C. The agency responds to the maintenance needs only as complaints are received or as employees report problems.
  • D. The agency checks the references of bidders.

Answer: C

Explanation:
What Is an Internal Control Deficiency?
* Aninternal control deficiencyoccurs when an organization fails to implement controls to prevent or detect risks effectively.
* In this case, responding only to maintenance needs when complaints are received demonstrates a lack of proactive controls, increasing the risk of issues going unnoticed or escalating over time.
Why Is Option C Correct?
* Proactive maintenance schedules and inspections are essential for ensuring the safety and functionality of critical infrastructure like dams. Relying solely on complaints or employee reports is a reactive approach and represents a deficiency in internal controls.
Why Other Options Are Incorrect:
* A. Inspecting completed work:This is a proper control to ensure compliance with contract specifications.
* B. Releasing the bond after work completion:This ensures contractual obligations are met and is a good control practice.
* D. Checking bidder references:This is part of the procurement process and a valid internal control.
References and Documents:
* GAO Standards for Internal Control (Green Book):Emphasizes proactive controls and monitoring for critical operations.
* Federal Infrastructure Maintenance Best Practices:Highlights proactive inspections and maintenance as essential controls.


NEW QUESTION # 107
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