GFMC最新題庫資源和資格考試中的領先提供者＆GFMC：Examination 3: Governmental Financial Management and Control (GFMC)
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最新的 Government Financial Manager GFMC 免費考試真題 (Q111-Q116):
問題 #111
The ratios used to determine an organization's ability to meet its creditor's demands are
答案：A
解題說明：
What Are Liquidity Ratios?
Liquidity ratios are financial metrics used to measure an organization's ability to meet its short-term financial obligations as they come due. These ratios assess whether the organization has sufficient liquid assets (like cash, receivables, or short-term investments) to cover its current liabilities (debts or obligations due within a year).
Why Are They Relevant to Creditors?
Creditors care deeply about an entity's ability to repay its debts in a timely manner. Liquidity ratios provide a snapshot of the organization's financial health and give insight into its capacity to meet short-term demands.
They are essential tools in evaluating whether a government entity (federal, state, or local) or any other organization can pay its creditors without needing to secure additional financing or liquidate long-term assets.
Common Liquidity Ratios:
The most commonly used liquidity ratios are:
* Current Ratio:This measures the organization's ability to pay off its current liabilities with current assets.Formula:Current Assets ÷ Current Liabilities
* Quick Ratio (Acid-Test Ratio):A stricter version of the current ratio, it excludes less liquid assets (like inventory) to assess the organization's immediate ability to pay short-term debts.Formula:(Current Assets - Inventory) ÷ Current Liabilities
* Cash Ratio:Focuses only on the most liquid assets, such as cash and cash equivalents.Formula:Cash + Cash Equivalents ÷ Current Liabilities How Do Liquidity Ratios Apply to Governmental Accounting?
In governmental accounting, liquidity ratios are crucial for determining whether a governmental entity has the financial flexibility to manage short-term obligations like accounts payable, payroll, and other operating costs.
For example:
* State and local governments use liquidity ratios to show stakeholders their ability to sustain operations without financial strain.
* Government-wide financial statements (under GASB standards) often emphasize liquidity to demonstrate fiscal health to bondholders and credit rating agencies.
Why Not Other Ratios?
* A. Budgetary Cushion Ratios:These focus on the organization's ability to withstand revenue shortfalls and maintain budgetary reserves, not specifically on meeting creditor demands.
* C. Debt Burden Ratios:These measure the overall burden of debt on the organization but don't directly address short-term liquidity or solvency.
* D. Turnover Ratios:These evaluate operational efficiency (e.g., how quickly assets like inventory are converted into revenue), which doesn't directly relate to creditor demands.
References and Documents:
* Government Financial Manager (GFM) Competency Framework by the Association of Government Accountants (AGA):Section on "Financial Analysis" emphasizes the importance of liquidity ratios in assessing short-term solvency for government entities.
* GASB Concepts Statement No. 1:Discusses the need for governmental financial reporting to provide information on financial condition, including short-term liquidity.
* AGA Performance Management Framework Guide (2023):Highlights liquidity ratios as critical tools for demonstrating fiscal responsibility and transparency in public sector financial management.
問題 #112
The basic steps in fraud audits include all of the following EXCEPT
答案：D
解題說明：
* Fraud Audit Objective:Fraud audits aim to detect and investigate fraudulent activities, strengthen internal controls, and report findings to stakeholders.
* Basic Steps in Fraud Audits:
* Consulting Legal Counsel: Ensures compliance with legal requirements and protects the organization.
* Reporting the Results: Essential to inform stakeholders of findings and corrective actions.
* Follow-up on Control Weaknesses: Addresses identified vulnerabilities to prevent future fraud.
* Explanation of Incorrect answer:
* D. Considering political ramifications: Irrelevant to fraud audits, as these audits focus on financial and legal matters rather than political considerations.
Association of Certified Fraud Examiners (ACFE),Fraud Examination Manual.
Government Accountability Office (GAO),Fraud Risk Management Framework.
問題 #113
A performance measurement that is measured the same way over several periods is
答案：B
解題說明：
What Is Consistency in Performance Measurement?
Aconsistentperformance measure is one that is calculated and reported in the same way over several periods. Consistency allows for meaningful comparisons and trend analysis, making it easier to evaluate performance over time.
Why Consistency Is the Correct answer:
Performance metrics must remain consistent in methodology, definitions, and scope to ensure the results are comparable across time periods. Without consistency, the reliability and usefulness of the data are diminished.
Why Other Options Are Incorrect:
B). Timely:Timeliness refers to how quickly the information is reported, not whether it is measured consistently.
C). Relevant:Relevance ensures the measure is meaningful to the decision-making process, but it does not address consistency.
D). Reliable:Reliability refers to the accuracy and trustworthiness of the data, not its consistency over time.
References and Documents:
GAO Performance Measurement Guide:Stresses the importance of consistency in tracking and reporting metrics over time.
問題 #114
In an attestation engagement, which party would make an assertion about a subject matter?
答案：A
解題說明：
What Is an Attestation Engagement?
An attestation engagement is a type of professional service where an independent practitioner (typically an auditor or CPA) evaluates and provides a report on assertions made by another party about a specific subject matter. These engagements follow standards set by organizations like the AICPA or GAO.
Who Makes the Assertion?
* Management's Role:Management is the party responsible for making an assertion about the subject matter under review. For example, management might assert that internal controls are effective or that financial statements are fairly presented.
* Auditor/Practitioner's Role:The auditor or practitioner examines the evidence related to the assertion and provides an opinion or conclusion based on that examination.
* User's Role:The users are the stakeholders (e.g., investors, regulators) who rely on the practitioner's report, but they do not make assertions.
Why Other Options Are Incorrect:
* B. Auditor/Practitioner:The auditor or practitioner evaluates the assertion made by management, not the other way around.
* C. Practitioner:See above-practitioners don't make assertions.
* D. User:Users are the intended audience of the attestation report, not the party making assertions.
References and Documents:
* AICPA Attestation Standards (SSAEs):Clarifies the role of management in making assertions during attestation engagements.
* GAO's Government Auditing Standards (Yellow Book):Provides additional guidance on the roles of parties in attestation engagements.
問題 #115
Business process re-engineering typically addresses all of the following EXCEPT the
答案：D
解題說明：
* Business Process Re-Engineering (BPR):
* BPR focuses onredesigning key processesto achieve dramatic improvements in efficiency, effectiveness, and performance.
* It typically involves addressing technical systems, human factors, and process workflows, but it does not involve redefining the organization's mission, which is a strategic activity outside the scope of BPR.
* Explanation of Answer Choices:
* A. Key processes: Incorrect. Key processes are the primary focus of BPR.
* B. Human environment: Incorrect. BPR often addresses human factors, such as roles and responsibilities.
* C. Organizational mission: Correct. The mission is a strategic element and not typically redefined as part of process re-engineering.
* D. Technical environment: Incorrect. BPR often involves rethinking technical systems and workflows.
:
Hammer & Champy,Reengineering the Corporation: A Manifesto for Business Revolution.
GAO,Business Process Re-Engineering for Government Efficiency.
問題 #116
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