Free AGA CGFM Exam Dumps Questions & Answers

Management's need for real-time access to data is facilitated when

• A.  the prior year's financial statement data underlies the management reports used to decide on future expenditures.
• B.  complex data sets are available on demand, presented with minimal distractions.
• C.  data is represented visually and includes information that indirectly relates to the subject matter.
• D.  data supporting dashboards are updated every quarter.

The Prompt Payment Act requires federal agencies to pay

• A.  invoices immediately when received.
• B.  interest on intragovernmental invoices.
• C.  interest when an invoice is paid late.
• D.  invoices no later than 60 days after receipt of the invoice.

In relation to financial reporting, who evaluates internal controls to support an opinion on a fair presentation of the financial statements?

• A.  management
• B.  the audit committee
• C.  the program office
• D.  the independent auditor

Which element of an inventory management system includes determining how much stock to have on hand?

• A.  safeguard control
• B.  management control
• C.  supply control
• D.  inventory control

Earned value management is preferred over traditional project management because

• A.  traditional project management is used to monitor progress and deliverables of larger projects.
• B.  earned value management is used to monitor progress and deliverables of smaller projects.
• C.  earned value management provides information about status of deliverables, funds and time expended.
• D.  traditional project management provides information about status of deliverables, funds and time expended.