AGA GAFRB Real 2025 Braindumps Mock Exam Dumps [Q26-Q50]

Q26. 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?

Q27. An agency’s Fund Balance with Treasury is increased by which of the following events?

Q28. The PAR includes all of the following elements EXCEPT the

Q29. For state and local governments, a fund that is legally restricted to the use of earnings with the principal protected is

Q30. Which entity assists the president in overseeing the preparation of the President’s Budget?

Q31. Depreciation is measured on the statewide financial statements using the

Q32. The major difference in applying the accrual concept in governmental fund accounting, as opposed to private- sector accounting, is that revenues are

Q33. Funds collected and spent to carry out an unemployment program established by federal statute are deposited in

Q34. The legal congressional permission for an executive branch department or agency to enter into an obligation that will result in an immediate or future outlay is referred to as

Q35. The objectives of federal financial reporting include all of the following EXCEPT

Q36. Who is responsible for making apportionments and allotments?

Q37. What fund category traditionally accounts for the general services to the public such as public safety, health, transportation, social services and the administration of the government?

Q38. To capitalize a research and development asset, it must

Q39. 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

Q40. A state grant will reimburse a city for 40% of the architectural, construction and project management costs to build an annex to a city building. A city employee, who is paid salary and benefits of 510,000 a month, works half-time on the project for six months.
The city reports the following project budgeted and actual costs:
Purpose Budget Actual
Architectural fees $ 100.000 $ 90,000
Construction costs $10,500,000 $10,000,000
Based upon the above information, what is the amount of allowable costs that the state will reimburse the city on the grant?

Q41. The purpose for establishing a custodial fund is to

Q42. An agency offers service for a fee; bad debts have historically averaged 5% of each year’s fee revenue. During the past fiscal year, $1.1 million in fee revenue was recorded and $1 million in fees was collected. What is the bad debt expense recorded for the past fiscal year?

Q43. of the following are integral parts of state governments* formal financial statements EXCEPT the

Q44. Interest accrued on the public debt is reported as

Q45. Which of the following revenue sources is an exchange-like transaction?

Q46. What is the annual projected sales tax revenue if in nine months the revenue earned is $26.5 million, and no other factors are known?

Q47. A government issues general obligation bonds at a premium. The associated amortization would be reported on the

Q48. When a new combined government replaces the separate governments of a city and a county, this is an example of

Q49. When determining the full costs of a specific product or service, if the costs cannot be directly traced to the product or service, the costs should be assigned based upon

Q50. Which of the following events is an example of an expenditure but not an expense?