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Certified Public Finance Officer (CPFO) Questions 76–80 (page: 17)

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

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.

Line-Item Budget is more appropriate for:

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:

Number of students enrolled, cost per student enrolled, year­end 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.