Free CPFO Exam Braindumps (page: 3)

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A discretionary grant is characterized by a:

  1. transfer of funds based upon a formula.
  2. transfer of funds for broadly-defined purposes.
  3. transfer of funds for specific purposes.
  4. voluntary contribution that confers no rights nor benefits to the giver.

Answer(s): C



A formal estimate of the resources a government or government unit plans to expend in a given period is a:

  1. PAR.
  2. CAFR.
  3. budget.
  4. cost benefit analysis.

Answer(s): C



Managerial accounting helps officials measure the cost-effectiveness of operations by:

  1. forecasting future revenue needs.
  2. controlling expenses under budgetary law.
  3. combining financial and non-financial data.
  4. demonstrating compliance with applicable laws and regulations.

Answer(s): A



Debt refunding proceeds would be reported as:

  1. a revenue.
  2. a liability.
  3. an other financial use on the operating statement.
  4. an other financing source on the operating statement.

Answer(s): D






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