AGA AGA-CGFM Online Practice Questions and Exam Preparation

AGA AGA-CGFM Online Questions & Answers

• Question 111:

  Centralization is most cost effective than decentralization purchasing because:

  A. Purchases are better scheduled
  B. Goods are more systematically inspected
  C. Suppliers operate under a single set of rules and expectations
  D. All of these
  D. All of these

• Question 112:

  Which one the following statement is NOT included in Green Purchasing?

  A. Buying energy-efficient light bulbs
  B. Buying batteries with mercury
  C. Buying non-toxic cleaning products
  D. Buying recycled paper and two-way envelopes
  B. Buying batteries with mercury

• Question 113:

  The lease agreement contains a ___________ clause that permits the government to cancel the capital lease, without defaulting, by not appropriating payment for the lease.

  A. Appropriation
  B. Non-appropriation
  C. It depends
  D. None-of these
  B. Non-appropriation

• Question 114:

  Which of the following danger sign/s help to detect Auditors' fraud?

  A. Borrowing small amounts from fellow employees
  B. Pronounced criticism of others, endearing to divert suspicion
  C. Replying to Questions with unreasonable explanations
  D. All of these
  D. All of these

• Question 115:

  This exhibit shows that management should give thoughts to its coding system. A coding system structure with too many accounts is redundant but a too-abbreviated system does not sufficiently permit cost performance evaluation. Minimally organizations should budget by:

  

  A. Funds
  B. department
  C. Object of experiment
  D. Funds, Department and Object expenditure
  D. Funds, Department and Object expenditure

• Question 116:

  Types of so bonds are all of the following EXCEPT:

  A. Special assessment and special or limited tax
  B. Non-property tax and non-local ax
  C. Moral obligation
  D. All of these
  D. All of these

• Question 117:

  "Every employee should have a personnel file that includes authorization for hiring, salary history hours authorized to work, federal and state withholding forms, hospital and retirement information and support for any other payout deductions." There are the procedures of:

  A. Cash Disbursements in payroll department
  B. Separation of duties in a small of government
  C. Federal government payroll system
  D. Both A and B
  D. Both A and B

• Question 118:

  Other factors being equal, when the cost of inventory has increased over several financial statement periods, an agency using LIFO will:

  A. need to restate their financial statements after five years of cost increases.
  B. show a higher value of ending inventory than a similar agency that uses FIFO.
  C. need to increase the audit frequency.
  D. reflect lower net income than an agency that uses the average cost inventory method.
  D. reflect lower net income than an agency that uses the average cost inventory method.

• Question 119:

  To decide whether to issue bond publicly or privately ______________

  A. A cost comparison should be made
  B. A demo issue should be done
  C. An international research on that issue should be done
  D. None of these
  A. A cost comparison should be made

• Question 120:

  A government agency's mission statement should include:

  A. services and accomplishments.
  B. organizational structure and hierarchy.
  C. major functions and goals.
  D. performance measures and reports.
  C. major functions and goals.