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The desktop software Certified Government Financial Manager (CGFM) (CGFM) practice exam format can be used easily used on your Windows system. Customers can use it without the internet. PracticeDump have made all of the different formats so the students won't face any extra issues and crack Certified Government Financial Manager (CGFM) (CGFM) certification exams for the betterment of their futures.

To be eligible to take the CGFM exam, candidates must have a bachelor's degree from an accredited institution and at least two years of professional-level experience in government financial management. Candidates who pass all three exams and meet the experience requirements are awarded the CGFM Certification. The CGFM is a valuable credential for government financial professionals, as it demonstrates their knowledge and expertise in the field and can lead to career advancement opportunities.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q14-Q19):

NEW QUESTION # 14
The auditor(s) should:
I- Adequately plan the work and properly supervise assistants
II- Properly study internal accounting controls to determine their reliability These points are the part of

A. Reporting Standards
B. Field work Standards
C. All of these
D. General Standards

Answer: B

NEW QUESTION # 15
The scope of a single audit engagement includes all of the following EXCEPT

A. performance results.
B. internal controls.
C. financial statements.
D. compliance with terms of the award.

Answer: A

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.
References:
* Uniform Guidance (2 CFR Part 200),Audit Requirements.
* Government Accountability Office (GAO),Yellow Book: Standards for Audits of Federal Awards.

NEW QUESTION # 16
What type of analygis should a finance director use to determine if there will be enough funds available to cover bills due within the next 30 days?

A. receivables turnover ratio
B. debt burden ratio
C. budgetary cushion ratio
D. quick/current ratio

Answer: D

Explanation:
* Purpose of the Analysis:A finance director needs to assess whether the organization has enough funds available to cover short-term obligations (bills due within 30 days). This requires evaluating liquidity.
* Explanation of Key Ratios:
* Quick/Current Ratio: Measures an entity's ability to pay its short-term liabilities using liquid assets.
* Current Ratio= Current Assets ÷ Current Liabilities.
* Quick Ratioexcludes less liquid assets (e.g., inventory), focusing on assets that can quickly convert to cash.This is the appropriate measure for assessing immediate liquidity.
* Receivables Turnover Ratio: Measures how efficiently receivables are collected but doesn't directly evaluate liquidity for bills due within 30 days.
* Budgetary Cushion Ratio: Refers to financial reserves relative to annual spending, not short- term liquidity.
* Debt Burden Ratio: Evaluates debt relative to revenues but does not address immediate cash flow needs.
References:
* Government Finance Officers Association (GFOA),Liquidity Management Best Practices.
* Association of Government Accountants (AGA),Financial Statement Analysis for Government Finance Officers.

NEW QUESTION # 17
Governments have three principal options for selecting a bank. Which one of the following is the best out of those options?

A. They can rotate their business among several banks in the community
B. They may handle different funds or accounts.
C. None of these
D. Should select banking services competitively with a request for proposals (RFP)

Answer: D

NEW QUESTION # 18
Which of the following would auditors issue an opinion on?

A. compliance audits
B. financial statement audits
C. performance audits
D. forensic audits

Answer: B

Explanation:
* Audit Opinions:
* Auditors issue opinions onfinancial statement auditsto provide assurance about whether the financial statements are presented fairly in accordance with applicable accounting standards (e.g., GAAP).
* Other types of audits, such as performance or forensic audits, do not typically result in opinions but may provide findings or recommendations.
* Explanation of Answer Choices:
* A. Performance audits: These assess efficiency, effectiveness, or economy but do not include an opinion.
* B. Compliance audits: These assess adherence to laws or regulations and may include findings but not an opinion.
* C. Financial statement audits: Correct. These audits include an auditor's opinion on the fairness of the financial statements.
* D. Forensic audits: These focus on fraud investigation and result in findings, not an opinion.
References:
* AICPA,Audit Opinions on Financial Statements.
* GAO,Government Auditing Standards (Yellow Book).

NEW QUESTION # 19
......

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q14-Q19):

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Reliable CGFM Dumps - 2025 AGA First-grade CGFM Advanced Testing Engine Pass Guaranteed

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q14-Q19):