Test Prep Test Prep Certifications CGFM Questions & Answers

• Question 121:

  The ________ tax, though regressive is more popular among tax-players than the income tax because its full cost to the taxpayer is hidden among the large no of transactions.

  A. Proportional tax

  B. Corporate tax

  C. Sales tax

  D. State tax

  Correct Answer: C

• Question 122:

  An all too familiar axiom is "either spend it or lose it." When an agency under-spends its budget, the governing board is inclined to:

  A. Check the reserves for the next time

  B. Cut the next year's budget accordingly

  C. Control the income and expenditure level

  D. Call the general public to play their proper role

  Correct Answer: B

• Question 123:

  There are four types of measure. All of the following are out of those measures EXCEPT:

  A. Outputs

  B. Intermediate outcomes and efficiency measures

  C. End Outcome

  D. None of these

  Correct Answer: D

• Question 124:

  Number of students enrolled, cost per student enrolled, year璭nd state test score and critical thinking and application of knowledge. This is an example of measures in education sector. Match these steps with the following appropriate list of types of measures.

  A. Output, Efficiency Measures, Intermediate Outcome, End Outcome

  B. Output, Intermediate Outcome, Efficiency Measures, End Outcome

  C. Output, Intermediate Outcome, End Outcome, Efficiency Measures

  D. Efficiency Measures, Intermediate Outcome, End Outcome, Output

  Correct Answer: A

• Question 125:

  Initially Line item budgets were used by the local governments but afterwards more reformed practices has taken its place and grouped its purpose. Those refined and more manageable categories are all EXCEPT:

  A. Salaries

  B. Supplies C. Equipment

  D. Loans

  Correct Answer: D

• Question 126:

  Line-Item Budget is more appropriate for:

  A. Non-profits

  B. Federal Governments

  C. Small and local Governments

  D. Both A and C

  Correct Answer: D

• Question 127:

  GAAP do not specify how much fund balance to set aside, but the_________ recommends that local governments maintain a reserve of (1) 5% to 15% of general fund reserves or (2) at least 1-2 months general fund operating expenditures.

  A. GFUA (Government Finance officers Association)

  B. State bank

  C. Federal reserves Board

  D. All of there

  Correct Answer: A

• Question 128:

  Which one of the following is not an opportunity for the Governmental budgetary plan?

  A. Privatization of functions

  B. Modern building and department

  C. Reorganization

  D. Involvement in new transportation modes

  Correct Answer: B

• Question 129:

  The supply side fiscal policy reduces _________ and the Keynesian fiscal policy increases __________.

  A. Economic growth, Taxes

  B. Taxes, Federal spending

  C. Economic growth, Employment rate

  D. None of these

  Correct Answer: B

• Question 130:

  States require that:

  A. Local units adopt balanced budgets but are silent about year-end balances

  B. Strategic planners first conduct SWOT analysis

  C. The Governor makes across-the-Board cuts

  D. None of there

  Correct Answer: A