Free AGA GAFRB Exam Dumps Questions & Answers

Governmental funds reported $80 million current expenditures and $2 million capital outlays. The reconciliation of the Statement of Revenues. Expenditures, and Change in Fund Balance to the Statement of Activities starts with the total net change in fund balances in the governmental fund and

• A.  $2 million in capital outlays is added.
• B.  $S2 million in capital outlays is subtracted.
• C.  $80 million in current expenditures is added.
• D.  $80 million in current expenditures is subtracted.

If an internal service fund needs to develop an hourly billing rate, the calculation should include

• A.  all materials consumed during the year.
• B.  the replacement cost of equipment purchased during the year.
• C.  the acquisition cost of equipment purchased during the year.
• D.  all materials purchased during the year, even if the materials were not consumed.

At the beginning of the fiscal year a school district held the following capital assets:
What is the depreciation expense for the current year?

• A.  $233.333
• B.  $207.500
• C.  $200.000
• D.  $240.833

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

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

A local government is evaluating different financing options for an upcoming capital project. Which of the following debt instruments will typically offer the lowest interest rate?

• A.  revenue bonds
• B.  commercial paper
• C.  certificate of deposit
• D.  general obligation bonds