Question 1

Which of the following would auditors issue an opinion on?

Options :

A : performance audits

B : compliance audits

C : financial statement audits

D : forensic audits

Answer: C

Question 2

Management shoulg consider the cost of internal controls in relationship to

Options :

A : the available budget.

B : inherent risks.

C : benefits provided.

D : risk of collusion.

Answer: C

Question 3

If a state treasurer wants to evaluate a variety of alternative long-term investments, which financial analysis should be used?

Options :

A : net present value analysis

B : regression analysis

C : horizontal analysis

D : ratio analysis

Answer: A

Question 4

Performance measures that report the results of providing goods or services are known as

Options :

A : activity measures.

B : outcome measures.

C : output measures.

D : workload measures.

Answer: C

Question 5

All of the following represent selection criteria used to make contract awards EXCEPT contractor

Options :

A : staff expertise.

B : past performance records.

C : union affiliations.

D : financial position.

Answer: C

Free GFMC Mock Exam – Practice Online Confidently