Question 1

One of the minimum components of a government financial system is

Options :

A : automated transaction processing.

B : debt-reduction analysis.

C : performance management reporting.

D : general ledger account definition.

Answer: D

Question 2

The goal of shared gervices is to

Options :

A : reduce current staffing levels.

B : transfer responsibilities to another entity.

C : efficiently aggregate resources.

D : provide private business opportunities.

Answer: C

Question 3

Which of the following statements from an audit finding is the condition?

Options :

A : We identified multiple credit card purchases without receipts to support them.

B : Government policy requires a cardholder to submit receipts for all purchases.

C : Finance Department personnel did not regularly review purchases to ensure compliance.

D : We recommend that the government implements a timely review of all credit card purchases.

Answer: A

Question 4

All of the following represent selection criteria used to make contract awards EXCEPT contractor

Options :

A : staff expertise.

B : past performance records.

C : union affiliations.

D : financial position.

Answer: C

Question 5

Which of the following would auditors issue an opinion on?

Options :

A : performance audits

B : compliance audits

C : financial statement audits

D : forensic audits

Answer: C