Open the auxiliary access

Firefly Open Source Community

   Login   |   Register   |
New_Topic
Firefly Open Source Community › Embedded Board › Firefly-RK3128› Free PDF AGA - GFMC - Examination 3: Governmental Fi ...
New Topic
Print Previous Topic Next Topic

[General] Free PDF AGA - GFMC - Examination 3: Governmental Financial Management and Contr

elijahb665

137

Credits

0

Prestige

0

Contribution

registered members

Rank: 2

Credits
137

【General】 Free PDF AGA - GFMC - Examination 3: Governmental Financial Management and Contr

Posted at yesterday 19:09      View：2 | Replies：1        Print      Only Author   [Copy Link] 1#
BONUS!!! Download part of VCE4Plus GFMC dumps for free: https://drive.google.com/open?id=10U1-SNMBrZu68Fzqq-kkpy5o7bB4phJq
While making revisions and modifications to the AGA GFMC practice exam, our team takes reports from over 90,000 professionals worldwide to make the AGA GFMC Exam Questions foolproof. To make you capable of preparing for the GFMC exam smoothly, we provide actual AGA GFMC exam dumps.
As long as you are willing to exercise on a regular basis, the GFMC exam will be a piece of cake, because what our GFMC practice materials include is quintessential points about the exam. And our high pass rate as 98% to 100% are all proved data form our customers who had attended the GFMC Exam and got their success with the help of our GFMC study dumps. So just come on and join our success!
Valid GFMC Test Topics - New GFMC Test ForumYou can conveniently test your performance by checking your score each time you use our AGA GFMC practice exam software (desktop and web-based). It is heartening to announce that all VCE4Plus users will be allowed to capitalize on a free AGA GFMC Exam Questions demo of all three formats of AGA GFMC practice test.
AGA Examination 3: Governmental Financial Management and Control (GFMC) Sample Questions (Q49-Q54):NEW QUESTION # 49
All of the following ae among the stated purposes of GPRA EXCEPT to
  • A. improve internal management practices.
  • B. improve program effectiveness.
  • C. provide instructions on program reporting.
  • D. help managers improve service delivery.
Answer: C
Explanation:
What Is GPRA?
TheGovernment Performance and Results Act (GPRA)of 1993 was designed to improve the performance of federal programs by requiring federal agencies to establish goals, measure performance, and report on their progress.
Stated Purposes of GPRA:
* Improve Service Delivery (Option A):GPRA helps agencies align performance goals with customer needs, improving service delivery.
* Improve Internal Management Practices (Option B):By requiring performance metrics and evaluations, GPRA enhances internal management and decision-making processes.
* Improve Program Effectiveness (Option D):GPRA aims to make federal programs more effective by fostering accountability and linking resources to results.
Why Option C Is Incorrect:
* GPRA does not provide detailedinstructions on program reporting.While it requires agencies to report on their performance, it does not dictate the specific steps or instructions for reporting. Instead, agencies design their own reporting processes within the GPRA framework.
References and Documents:
* Government Performance and Results Act of 1993:Stipulates the law's objectives but does not mention program reporting instructions.
* GAO Report on GPRA Implementation:Highlights GPRA's purpose to improve performance management and accountability without prescribing reporting instructions.

NEW QUESTION # 50
The value, in current dollars, of a sum of money to be received in the future describes
  • A. future value.
  • B. present value.
  • C. annuity value.
  • D. payback value.
Answer: B

NEW QUESTION # 51
Internal control over financial reporting means that management can reasonably make which of the following assertions?
  • A. All assets and liabilities have been properly valued and, where applicable, all costs have been properly allocated.
  • B. Sufficient spending authority and financial resources exist to support reported expenditures.
  • C. Management has met its legislatively directed program goals.
  • D. A physical inventory has been conducted of all assets meeting the jurisdiction's capitalization threshold.
Answer: A
Explanation:
What Is Internal Control Over Financial Reporting?
Internal control over financial reporting (ICFR) ensures the reliability of an entity's financial statements. It focuses on maintaining accurate, complete, and properly valued financial information that complies with accounting standards and meets the needs of users.
Why Is Option C Correct?
* Proper valuation of assets and liabilities is a critical component of ICFR. It ensures that financial statements fairly represent the entity's financial position.
* Cost allocation is also essential where applicable, such as assigning costs to programs or projects.
Why Other Options Are Incorrect:
* A. Sufficient spending authority and financial resources exist:This relates to budgetary control, not financial reporting.
* B. Physical inventory of capitalized assets:Conducting a physical inventory is part of asset management, not financial reporting assertions.
* D. Legislatively directed program goals:Meeting program goals is related to performance reporting, not ICFR.
References and Documents:
* GAO Standards for Internal Control (Green Book):Stresses the importance of proper valuation and cost allocation for accurate financial reporting.
* COSO Framework:Emphasizes ICFR's role in ensuring reliable and accurate financial statements.

NEW QUESTION # 52
A variable that would influence management's decision to hire contractors to perform management control evaluations is
  • A. lack of management expertise.
  • B. knowledge of systemic deficiencies.
  • C. availability of qualified contractors.
  • D. suspicion of internal fraud.
Answer: A
Explanation:
Why Hire Contractors for Management Control Evaluations?
Management may decide to bring in external contractors when there are gaps in the organization's capacity to perform evaluations internally. One key factor is thelack of management expertise-if management lacks the necessary knowledge or experience to evaluate controls effectively, it may outsource this task to qualified contractors.
Why Other Options Are Incorrect:
* B. Availability of Qualified Contractors:While availability is a factor, it's not a variable that influences the decision to outsource. Instead, it's a logistical consideration once the decision has been made.
* C. Suspicion of Internal Fraud:Suspicion of fraud may lead to investigations, but hiring contractors to evaluate controls is driven by expertise gaps rather than fraud concerns.
* D. Knowledge of Systemic Deficiencies:If management already has knowledge of systemic deficiencies, they may focus on remediation rather than outsourcing evaluations.
References and Documents:
* GAO Standards for Internal Control in the Federal Government (Green Book):Emphasizes the need for knowledgeable personnel to evaluate controls.
* GAGAS (Yellow Book):Highlights the role of external expertise in cases where internal expertise is insufficient.

NEW QUESTION # 53
The scope of a single audit engagement includes all of the following EXCEPT
  • A. internal controls.
  • B. performance results.
  • C. compliance with terms of the award.
  • D. financial statements.
Answer: B
Explanation:
* Scope of Single Audit:The scope includes:
* Financial Statements: Ensuring accurate reporting of financial activities.
* Internal Controls: Evaluating effectiveness in compliance with federal requirements.
* Compliance: Ensuring compliance with the terms and conditions of the award.
* Explanation of Answer Choices:
* A. Financial statements: Included in the audit.
* B. Internal controls: Included to ensure compliance.
* C. Performance results: Correct. Single audits do not assess program outcomes or effectiveness.
* D. Compliance with terms of the award: Included to ensure federal funds are used appropriately.
:
Uniform Guidance (2 CFR Part 200),Audit Requirements.
Government Accountability Office (GAO),Yellow Book: Standards for Audits of Federal Awards.

NEW QUESTION # 54
......
Examination 3: Governmental Financial Management and Control (GFMC) GFMC actual dumps will help you in clearing doubts about the AGA GFMC certification test. There are multiple benefits if you buy VCE4Plus actual Exam Questions today. You will receive 365 days updates. We will provide you with these free updates if the GFMC Real Exam content changes after your buying. All users can also download a free demo of our GFMC actual dumps before buying. Buy VCE4Plus updated GFMC dumps today and get these excellent offers.
Valid GFMC Test Topics: https://www.vce4plus.com/AGA/GFMC-valid-vce-dumps.html
Our Company have attached great importance to the quality of our GFMC exam preparation files, at the same time, we firmly believe that first-class service is the key for us to win customers in the international market, so our company will provide exquisite technology and strict quality control along with first-class after sale service to our customers, Some of you want to change your life from getting AGA GFMC certification.
Part II: Cisco Business Video Solutions, Appreciation and love GFMC for art keeps Shanyang respectful of art and keeps it away from vulgarity and the use of art by ordinary artists.
Our Company have attached great importance to the quality of our GFMC Exam Preparation files, at the same time, we firmly believe that first-class service is the key for us to win customers in the international market, so our company will GFMC Free Sample Questions provide exquisite technology and strict quality control along with first-class after sale service to our customers.
Precise GFMC Test Dumps Demo | Perfect Valid GFMC Test Topics and Complete New Examination 3: Governmental Financial Management and Control (GFMC) Test ForumSome of you want to change your life from getting AGA GFMC certification, Below, find the list of the most usedul ones, The answer to that is quite simple.
Besides, our GFMC exam dump is always checked to update to ensure the process of preparation smoothly.
BONUS!!! Download part of VCE4Plus GFMC dumps for free: https://drive.google.com/open?id=10U1-SNMBrZu68Fzqq-kkpy5o7bB4phJq
https://www.prep4sures.top
Reply

Use props Report

keithle211

139

Credits

0

Prestige

0

Contribution

registered members

Rank: 2

Credits
139
Posted at 4 hour before        Only Author  2#
Your article is truly awe-inspiring, thank you for sharing! New practice questions AP-204 pdf offers free, detailed content, hoping it benefits your studies.
https://www.actualtestpdf.com
Reply

Use props Report

Return to List
High mode
B Color Image Link Quote Code Smilies
You need to log in before you can reply Login | Register

This forum Credits Rules

  •  

Service Hotline : (+86)18688117175
Contact us
E-mail : global@t-firefly.com
Copyright © 2014-2022, FIREFLY TECHNOLOGY CO.,LTD. All Rightts Reserved. 粤ICP备14022046号-2
Quick Reply Back to top Back to list