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GFOA CPFO Exam - Topic 12 Question 77 Discussion

The federal government requires non-profit and privet firms to make _______________ assumption regarding future interest rates, wage increases, inflation and the like.
C) Both A&B
A) Implicit, one understated by another
B) Explicit
D) None of these

GFOA CPFO Exam - Topic 12 Question 77 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 77
Topic #: 12
[All CPFO Questions]

The federal government requires non-profit and privet firms to make _______________ assumption regarding future interest rates, wage increases, inflation and the like.

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Suggested Answer: C

by Lavonda at Nov 25, 2023, 06:49 AM

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Vilma
8 months ago
The government really does require these assumptions.
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Makeda
9 months ago
I thought it was none of these... interesting!
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Taryn
9 months ago
Wait, are we sure it's not both A and B?
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Maia
9 months ago
Totally agree, option B is the way to go!
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Adela
9 months ago
It's definitely explicit assumptions we need to make.
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Garry
9 months ago
I’m really unsure about this one. I feel like "none of these" could also be a possibility, but I just can't remember the specifics.
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Jame
9 months ago
I’m leaning towards "both A & B" because the government might require a mix of assumptions, but I’m not confident.
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Francesco
10 months ago
I remember a practice question that mentioned "implicit" assumptions, but I can't recall if that applies here. It feels like it could be both.
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Cordell
10 months ago
I think the answer might be "explicit," but I'm not entirely sure. We discussed how assumptions need to be clearly stated in financial reports.
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Abel
10 months ago
Okay, I think I've got it. The government requires firms to make explicit assumptions about things like interest rates and inflation. B is the answer.
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Queen
10 months ago
The key here is understanding what "explicit" and "implicit" mean in this context. I'll review my notes to make sure I have that right.
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Ligia
10 months ago
Hmm, I'm a little unsure about this one. I'll have to think it through carefully before answering.
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Iraida
10 months ago
This one seems pretty straightforward. I'm pretty sure the answer is B - Explicit.
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Brock
10 months ago
This seems like a pretty straightforward question. I'm pretty confident I can figure this out.
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Geraldine
10 months ago
I think the answer is B. The question mentions that the clusters are being integrated using ILS, and for that to work, the Cluster IDs need to be unique. If the Cluster IDs are not unique, the integration will fail.
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