Question 1

A capital asset transferred to another department within the same government should be

Options :

A : recorded with the original department to maximize receipts.

B : recorded with the second department to minimize costs.

C :

retained in the government-s fixed asset tracking system with no change in book value to either department.

D :

retained in the government-s fixed asset tracking system showing the book value of the asset transferred to the receiving department.

Answer: D

Question 2

What is the formal tam for the listing and assessment of an agency's top risks?

Options :

A : risk profile

B : risk management plan

C : risk assessment

D : risk register

Answer: A

Question 3

When planning for local government financial statement audit, what data source should the auditor consider first?

Options :

A : government-wide financial statements

B : fund financial statements

C : reconciliations between fund financial statements

D : previous audit findings

Answer: D

Question 4

Government entity SEA reporting provides users of general purpose financial reports with an

Options :

A : evaluation of the effects of changes in public policy.

B : assessment of financial condition and results of operations.

C : assessment of the accountability of the public administrators.

D : evaluation of the efficiency and effectiveness of governmental programs.

Answer: D

Question 5

An evaluation of anggntity’s single year financial statements would use which of the following analyses?

Options :

A : comparative

B : horizontal

C : trend

D : vertical

Answer: D

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