IIA IIA Certifications IIA-CGAP Questions & Answers

• Question 141:

  Although a government can have as many funds as it wishes, all of the funds must be classified into one of the following fund types EXCEPT.

  A. Proprietary Funds

  B. Property funds

  C. General funds

  D. Governmental Funds

  Correct Answer: BC

• Question 142:

  An integrated budget provides the mechanism to review spending activities and make judgments on the appropriateness of those expenditures. Where as Capital budgeting is often based on the issuance of capital debt.

  A. Zero-based budgeting, program budgeting

  B. Program budgeting, zero-based budgeting

  C. Zero-based Budget, integrated Budget

  D. Integrated budget, capital budgeting

  Correct Answer: D

• Question 143:

  The primary purpose of _______ was to promote planning activities. Where as _________ was developed to alleviate this problem by reevaluating the complete budget and starting from zero on each new budget year.

  A. Zero-based budgeting, program budgeting

  B. Program budgeting, Zero-based budgeting

  C. Zero-based Budget, Integrated Budget

  D. Program Budget, Executive Budget

  Correct Answer: B

• Question 144:

  ________is one in which each specific budgetary account is allocated to a narrow purpose (such as travel, supplies, personnel).where as ________are the entity's efforts to tie the results of the activities or programs to the cost of operating the programs.

  A. The line-item budget, Performance budgets

  B. Performance budgets, the line-item budget

  C. Zero-based Budget, Integrated Budget

  D. Program Budget, Executive Budget

  Correct Answer: A

• Question 145:

  Authorization -- a statute or legislation that establishes or continues a national program or agency. Where as advance appropriation -- budget authority provided in an appropriation act that is first available in a fiscal year beyond the fiscal year for which the appropriation is enacted.

  A. Advance appropriation, Authorization

  B. Authorization, Advance appropriation

  C. Budget authority, Appropriation act

  D. Appropriation act, Budget authority

  Correct Answer: B

• Question 146:

  All of the following are the additional terms that, although not mutually exclusive, help define budget authority EXCEPT:

  A. Temporary authority

  B. Definite appropriation authority

  C. Indefinite appropriation authority

  D. Current authority

  Correct Answer: A

• Question 147:

  _________attempts to use strategic planning to set the mission, goals, and objectives of programs; measure programs' outcomes; and set benchmarks to be met by programs.

  A. Performance-based budgeting

  B. Personal budgets

  C. Business budgets

  D. House hold budgets

  Correct Answer: A

• Question 148:

  The budget authority is generally a "ceiling" provided by law for obligations and expenditures. Some common forms of budget authority include all of the following EXCEPT:

  A. Appropriation -- this is the most common form of budget authority, which permits agencies to incur obligations and expend funds.

  B. Legal restrictions on an organization

  C. Public debt authority -- funds derived from the sale public debt securities of the federal government.

  D. Contract authority -- statutory authority under which obligations may be entered into prior to receiving an appropriation.

  Correct Answer: B

• Question 149:

  All budgets, whether national, regional, or local, should be tied to specific objectives. All government revenue raising and spending should fall into one of the following objectives given below please choose the correct option:

  A. Allocation -- ensuring that an appropriate level of funding flows into sectors of the economy where it is required.

  B. Legislative consideration

  C. Audit and evaluation

  D. Growth -- using the power of government spending to facilitate economic growth and wealth creation.

  Correct Answer: AD

• Question 150:

  A budget is a financial plan that serves as a guide to control and oversee future activities. The budgeting cycle incorporates all of the following components EXCEPT:

  A. Executive preparation and execution

  B. Legislative consideration

  C. Leading and controlling

  D. Audit and evaluation

  Correct Answer: C