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IIA Exam IIA-CGAP Topic 2 Question 76 Discussion

Actual exam question for IIA's IIA-CGAP exam
Question #: 76
Topic #: 2
[All IIA-CGAP Questions]

Government entities generally have the authority and responsibility to issue and require adherence to their policies and regulations relating to contracts. Accounting and control considerations for contracts include the following given below please choose the correct option:

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Suggested Answer: D

by Oretha at Apr 26, 2024, 05:05 PM

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Benton
3 months ago
The government always likes to make things complicated, don't they? But D seems to have it all covered.
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Iola
2 months ago
User 3: Yeah, D seems like the best choice to ensure everything is taken care of.
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Gladys
2 months ago
User 2: I think option D covers all the necessary considerations for contracts.
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Dino
2 months ago
User 1: I agree, the government loves to overcomplicate things.
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Octavio
3 months ago
D is the clear choice here. Can't forget those pesky inventory checks, they'll get you every time.
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Nilsa
3 months ago
Hah, government contracts? More like government headaches. At least option D makes sure they got all their ducks in a row.
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Leota
28 days ago
D) All of the above.
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Theresia
30 days ago
C) Settlement of any advances of money and inventories of property in a manner consistent with agency policy or contract conditions.
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Ammie
1 months ago
B) Specifications or statement of work describing goods and services to be obtained (including quality standards).
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Eden
2 months ago
A) Development and approval of a pre-award form to ensure unobligated funds equal to the estimated amount of the contract.
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Celestina
3 months ago
I agree, D is the way to go. Gotta cover all the bases when it comes to government paperwork.
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Abraham
3 months ago
I'm not sure, but I think option D) All of the above covers all the necessary accounting and control considerations for contracts.
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Pansy
3 months ago
I agree with Wenona. It makes sense to have all those considerations in place for contracts.
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Wenona
3 months ago
I think the correct option is D) All of the above.
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Vince
3 months ago
I'm not sure, but I think option B) Specifications or statement of work is also important as it defines the goods and services to be obtained, ensuring clarity in the contract.
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Raylene
3 months ago
I agree with Gaynell, option D seems to be the most comprehensive and covers all the important aspects of accounting and control for contracts.
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Lelia
3 months ago
Option D is the correct answer. This covers all the key accounting and control considerations for government contracts.
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Verona
2 months ago
User 4: Yes, those are important aspects to consider when dealing with government contracts.
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Merlyn
2 months ago
User 3: So we need to ensure unobligated funds, describe goods and services, and settle advances and inventories.
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Shanda
3 months ago
User 2: I agree, option D covers all the key accounting and control considerations for government contracts.
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Linn
3 months ago
User 1: I think the correct option is D) All of the above.
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Gaynell
4 months ago
I think the correct option is D) All of the above because it covers all the necessary accounting and control considerations for contracts.
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