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AGA Exam CGFM Topic 3 Question 61 Discussion

Actual exam question for AGA's CGFM exam
Question #: 61
Topic #: 3
[All CGFM Questions]

A capital asset transferred to another department within the same government should be

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Suggested Answer: D

by Curt at Oct 23, 2024, 09:57 PM

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Winifred
14 days ago
Option F: Flip a coin. Accounting is hard, let's just wing it!
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Lettie
19 days ago
Option E: Sell the asset to the highest bidder and split the proceeds. Who needs bureaucracy when you can make a quick buck?
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Mickie
27 days ago
Option A? Really? Why would we want to maximize receipts for an internal transfer? That doesn't make much sense.
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Josefa
1 months ago
Hmm, I'm torn between B and D. I guess it depends on whether we want to minimize costs or have a clear record of the transfer.
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Leonardo
2 months ago
I disagree. I think the asset should be recorded with the second department to minimize costs.
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Krystina
2 months ago
I think Option D is the right choice. It's important to reflect the asset's transfer and the receiving department's book value.
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Sherrell
11 days ago
Yes, it's crucial for transparency and accountability within the government.
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Valentin
15 days ago
I agree, Option D ensures accurate tracking of the asset's value.
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Barbra
2 months ago
Option C is the way to go! Keeping the asset in the tracking system with no change in book value is the most straightforward approach.
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Chantay
2 months ago
I agree with Ona. It makes sense to keep track of the asset without changing the book value for either department.
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Ona
2 months ago
I think the capital asset should be retained in the fixed asset tracking system with no change in book value to either department.
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