Free Access AGA.CGFM.v2026-01-24.q104 Practice Test (Page 14)

Question 61

Percentage of personnel, percentage of expense and the federal method are the methods of cost allocation commonly used in:

A.Non-profit Organizations

B.Federal organizations

C.Governmental Organizations

D.Local Government accounting

Question 62

The risk manager compiles:

A.Summarizing the number and types of losses

B.A five-year history of paid and self-insured losses

C.Only A & B

D.Frequency and severity of risks

Question 63

The ________ tax, though regressive is more popular among tax-players than the income tax because its full cost to the taxpayer is hidden among the large no of transactions.

A.Corporate tax

B.Proportional tax

C.Sales tax

D.State tax

Question 64

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

A.demonstrating compliance with applicable laws and regulations.

B.combining financial and non-financial data.

C.controlling expenses under budgetary law.

D.forecasting future revenue needs.

Question 65

Compliance reporting, under government auditing standards, identifies all of the following components EXCEPT

A.areas of noncompliance.

B.the auditor's responsibility for tests of compliance.

C.review of major internal control cycles.

D.the scopeof the compliance testing.

Other Version: 3397AGA.CGFM.v2022-08-15.q92

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Question 61

Question 62

Question 63

Question 64

Question 65

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