GFOA CPFO Exam - Topic 4 Question 123 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 123
Topic #: 4

Issuance of practice and consensus bulletins prepared by the AICPA's Accounting and Standard Executive Committee is done at _________ level of GAAP.

DZero

Show Suggested Answer

Suggested Answer: C

by Keneth at Apr 01, 2026, 03:58 AM

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Malcom

15 days ago

I thought it was level 1?

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Barrett

20 days ago

It's definitely at level 2 of GAAP.

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Delmy

1 month ago

I’m leaning towards C) 3, but I remember that level 3 is more about non-authoritative guidance. This is confusing!

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Dan

2 months ago

I practiced a similar question last week, and I think it was about the hierarchy of GAAP. I want to say it's B) 2, but I could be mixing it up with another level.

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Lina

2 months ago

I recall that consensus bulletins are related to the AICPA's guidance, but I can't remember if they fall under level 2 or 3. It feels like a tricky question!

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Leandro

2 months ago

I think the answer might be B) 2, but I'm not completely sure. I remember something about practice bulletins being more authoritative than just guidelines.

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