AGA Exam CGFM Topic 3 Question 49 Discussion

Actual exam question for AGA's CGFM exam

Question #: 49
Topic #: 3

[All CGFM Questions]

One of the minimum components of a government financial system is

Aautomated transaction processing.

Bdebt-reduction analysis.

Cperformance management reporting.

Dgeneral ledger account definition.

Show Suggested Answer

Suggested Answer: D

by Matthew at Jun 23, 2024, 03:19 PM

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Irma

2 months ago

I'm gonna have to go with E: All of the above, plus a magic unicorn to handle the books. That's the true minimum component, right?

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Marguerita

2 months ago

Wait, so the government has a financial system? I thought they just printed money and hoped for the best.

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Phillip

18 days ago

General ledger account definition is another important component.

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Amber

20 days ago

They also use performance management reporting to track their finances.

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Asha

1 months ago

One of the minimum components is automated transaction processing.

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Leota

1 months ago

Yes, the government has a financial system to manage their funds.

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Rebeca

2 months ago

I'm going to have to go with C. Performance management reporting is where it's at. Gotta keep an eye on those numbers, you know?

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Lera

1 months ago

General ledger account definition is essential for organizing and categorizing financial data accurately.

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Jessenia

2 months ago

I think automated transaction processing is also important for efficiency in handling financial transactions.

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Margarett

2 months ago

I agree, performance management reporting is crucial for keeping track of the government's finances.

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Dottie

3 months ago

B seems like the obvious choice. Debt reduction is the most important thing, right? I bet the government loves that one.

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Weldon

2 months ago

C) performance management reporting.

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Hyman

2 months ago

B) debt-reduction analysis.

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Velda

2 months ago

A) automated transaction processing.

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Daniela

3 months ago

I'm going with A. Automated transaction processing is the bare minimum, right? I mean, who wants to do everything manually these days?

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Queen

3 months ago

Definitely D. The general ledger is the cornerstone of any financial system, so that's got to be the minimum component.

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Mica

1 months ago

Debt-reduction analysis is necessary for maintaining a healthy financial position.

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Gianna

1 months ago

Performance management reporting is crucial for evaluating the effectiveness of financial decisions.

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Raylene

2 months ago

Automated transaction processing is important too, but the general ledger is definitely a minimum component.

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Marjory

2 months ago

I agree, the general ledger is essential for tracking all financial transactions.

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Maynard

2 months ago

Automated transaction processing is also important for efficiency in handling transactions.

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Cecil

2 months ago

I agree, the general ledger is essential for tracking all financial transactions.

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Patria

3 months ago

But without accurate general ledger accounts, how can the government track its financial transactions?

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Donte

3 months ago

I disagree, I believe it's D) general ledger account definition.

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Patria

3 months ago

I think the answer is A) automated transaction processing.

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