Free AGA GAFRB Exam Dumps Questions & Answers

A budget document that lists the budget by social services, affordable housing and supplies includes which of the following significant elements?

• A.function, category, object class
• B.organizational unit, program, category
• C.function, program, object class
• D.program, function, category

An example of a non-exchange revenue is

• A.sales taxes.
• B.bond proceeds.
• C.investment earnings.
• D.licensing fees.

Which one of the following statements is true with regard to external reporting of major funds for state and local governments?

• A.Internal service funds that have assets and deferred outflows of resources in excess of 10% of total proprietary assets and deferred outflows of resources are required to be reported as major funds.
• B.Special revenue funds that have expenditures in excess of 5% of total governmental expenditures are required to be reported as major funds.
• C.The general fund is presented as major only if it meets the major fund criteria.
• D.Management can elect to present any governmental or enterprise fund as a major fund.

According to GASB, the costs of which of the following activities associated with internally generated computer software should be capitalized?

• A.training employees to use the software
• B.selecting between alternatives for the software project
• C.testing the software for functionality and ease of use
• D.converting extra data not needed to make the software work

The federal budget baseline forecast reflects the estimated

• A.receipts, outlays, and deficit or surplus that would result from continuing current law or policies.
• B.effects of current law on recipients of federal benefits.
• C.effects of enacting Congressional appropriations bills on federal receipts and spending.
• D.receipts, outlays, and deficit or surplus under the President's Budget.