AGA Certified Government Financial Manager (CGFM) - CGFM Exam Practice Test

A. serving as an expert witness.

B. preventing fraud.

C. auditing accounting records to prove or disprove fraud.

D. interviewing all related parties to fraud.

A. retained in the government's fixed asset tracking system with no change in book value to either department.

B. recorded with the second department to minimize costs.

C. recorded with the original department to maximize receipts.

D. retained in the government's fixed asset tracking system showing the book value of the asset transferred to the receiving department.

A. detection risk

B. inherent risk

C. control risk

D. audit risk

A. determine scope.

B. present the findings in accordance with GAAP.

C. set materiality of financial statements.

D. obtain sufficient and competent evidence.

A. states to minimize the time elapsing between funds drawn and their final disposition.

B. states to pay invoices within 30 days of receipt of a proper invoice.

C. federal agencies to disburse payments via electronic funds transfer.

D. federal agencies to take discounts when available and cost-effective.

A. automated transaction processing.

B. performance management reporting.

C. general ledger account definition.

D. debt-reduction analysis.