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Government Financial Manager Examination 3: Governmental Financial Management and Control (GFMC)

Examination 3: Governmental Financial Management and Control (GFMC)

Last Update Jan 10, 2026
Total Questions : 115

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Questions 2

Which of the following statements from an audit finding is the condition?

Options:

A.  

We identified multiple credit card purchases without receipts to support them.

B.  

Government policy requires a cardholder to submit receipts for all purchases.

C.  

Finance Department personnel did not regularly review purchases to ensure compliance.

D.  

We recommend that the government implements a timely review of all credit card purchases.

Discussion 0
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Questions 3

Which of the following would auditors issue an opinion on?

Options:

A.  

performance audits

B.  

compliance audits

C.  

financial statement audits

D.  

forensic audits

Discussion 0
Questions 4

The National Performance Management Advisory Commission established a comprehensive framework that

incorporates performance measurement into the

Options:

A.  

internal control plan.

B.  

financial statements.

C.  

audit procedures.

D.  

budget process.

Discussion 0
Questions 5

The best source for annual liability and cash flow data is a state's

Options:

A.  

PAR.

B.  

ACFR.

C.  

appropriations bill.

D.  

statement of activities.

Discussion 0

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