AGA GAFRB Exam - Topic 1 Question 19 Discussion

Actual exam question for AGA's GAFRB exam

Question #: 19
Topic #: 1

The measurement focus of the governmental fund level financial statements is

Amodified accrual basis.

Beconomic resources.

Ccurrent financial resources.

Daccrual basis.
Governmental fund financial statements (such as the General Fund, Special Revenue Funds, Capital Projects Funds) use the current financial resources measurement focus and the modified accrual basis of accounting. This focus reports inflows and outflows of current financial resources and excludes long-term assets and liabilities.
This differs from the government-wide financial statements, which use the economic resources measurement focus and full accrual basis.
Relevant Reference:
GASB Statement No. 34 -- Basic Financial Statements
GASB Codification Section 1600 -- Fund Accounting
GFOA Fund Accounting Guidance
Answer : C. current financial resources

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Suggested Answer: C

by Flo at May 29, 2026, 05:22 AM

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