AGA Exam CGFM Topic 4 Question 28 Discussion

Actual exam question for AGA's CGFM exam

Question #: 28
Topic #: 4

[All CGFM Questions]

Pay.gov is an example of

Aa zero-balance account.

Ba concentration system.

Can electronic lockbox.

Da data warehouse system.

US. Treasury Pay.gov Website: Describes Pay.gov as an electronic lockbox for federal payment processing.
GAO Financial Management Systems Guide: Highlights the role of electronic lockboxes like Pay.gov in improving efficiency.

Show Suggested Answer

Suggested Answer: D

by Filiberto at Apr 20, 2023, 08:39 AM

Limited Time Offer

25%

Off

Get Premium CGFM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Theola

10 days ago

I'm just glad it's not a concentration system. Imagine having to gather all your payments in one place before sending them off. Talk about a headache!

upvoted 0 times

...

Launa

12 days ago

Well, at least it's not a zero-balance account. That would be like trying to pay your taxes with pocket lint and a dream.

upvoted 0 times

...

Carolynn

13 days ago

Haha, imagine if Pay.gov was a data warehouse system. That would be like storing all your money in a virtual filing cabinet!

upvoted 0 times

...

Gaynell

1 months ago

I agree, C) an electronic lockbox is the right answer. The U.S. Treasury website and GAO guide confirm that Pay.gov is used for efficient electronic payment processing.

upvoted 0 times

Aracelis

15 days ago

It's great to see how Pay.gov is improving efficiency in federal payment processing.

upvoted 0 times

...

Lonny

16 days ago

Yes, the U.S. Treasury website and GAO guide both mention Pay.gov as an electronic lockbox.

upvoted 0 times

...

Rickie

20 days ago

I think C) an electronic lockbox is the correct answer.

upvoted 0 times

...

2 months ago

I think Pay.gov is an electronic lockbox.

upvoted 0 times

...