Question 1

Describe the four basic phases out the federal budget cycle.

Accepted Answer

The federal budget cycle consists of fou

Question 2

Which of the following authors identified various strategies managers can and do use in the budget process?

Accepted Answer

A) Mice Rivlin 
B) Mancur Olsen 
C) Frederick Mosher 
D) Aaron Wildavsky 
E) J.B.Colbert 
A) Mice Rivlin 
B) Mancur Olsen 
C) Frederick Mosher 
D) Aaron Wildavsky 
E) J.B.Colbert

Question 3

refer to the following table.
COMPARISON OF TWO REVENUE SOURCES
  
-Type B tax is

Accepted Answer

A) estate, inheritance, and gift taxes. 
B) sales tax. 
C) user charges. 
D) corporate income tax. 
E) personal income tax. 
A) estate, inheritance, and gift taxes. 
B) sales tax. 
C) user charges. 
D) corporate income tax. 
E) personal income tax.

Question 4

Which of the following statements about new performance budgeting is INCORRECT:

Accepted Answer

A)  Earliest application of new performance budgeting came at local and state levels. 
B)  The Chief Financial Officers Act of 1990 required financial officers of federal agencies to develop and report systematic measures of performance. 
C)  Government Performance and Results Act of 1993 directed agencies to work toward performance budgets. 
D)  The first presidential budget to aggressively use agency performance measures was president Bush's budget for fiscal 2003. 
E)  Unlike traditional performance budgeting, which focuses on outcomes, new performance budgeting attempts to budget according to the direct outputs or activities of government agencies. 
A)  Earliest application of new performance budgeting came at local and state levels. 
B)  The Chief Financial Officers Act of 1990 required financial officers of federal agencies to develop and report systematic measures of performance. 
C)  Government Performance and Results Act of 1993 directed agencies to work toward performance budgets. 
D)  The first presidential budget to aggressively use agency performance measures was president Bush's budget for fiscal 2003. 
E)  Unlike traditional performance budgeting, which focuses on outcomes, new performance budgeting attempts to budget according to the direct outputs or activities of government agencies.

Question 5

Which of the following is an off-budget item?

Accepted Answer

A) Zero-based budgeting 
B) Highway Trust Fund 
C) Covert operations by the CIA 
D) Form price supports 
E) Interest on the national debt 
A) Zero-based budgeting 
B) Highway Trust Fund 
C) Covert operations by the CIA 
D) Form price supports 
E) Interest on the national debt

Question 6

Discuss the pros and cons of the following six revenue sources: personal income tax; corporate income tax; property tax; a estate, inheritance, and gift taxes; sales tax; and user charges.Note: this question can be we formulated in a variety of ways.For example: "Discuss the pros and cons of the following two revenue sources…."

Accepted Answer

Personal Income Tax:
Pros: Personal inco

Question 7

Which statement about the bonds offered by state and local government is INCORRECT?

Accepted Answer

A) The construction of public university and school buildings, prisons, or mental health institutes are usually financed from bond purchaser revenues. 
B) General obligation bonds have the 'full faith and credit" of the general treasury behind the promise that bondholders will be repaid. 
C) State and local governments commonly offer two kinds of bonds: general obligation bonds and revenue bonds. 
D) Like general obligation bonds, revenue bonds have the resources of the general treasury behind them. 
E) Governments may take on short-term debt, usually for a year or less. 
A) The construction of public university and school buildings, prisons, or mental health institutes are usually financed from bond purchaser revenues. 
B) General obligation bonds have the 'full faith and credit" of the general treasury behind the promise that bondholders will be repaid. 
C) State and local governments commonly offer two kinds of bonds: general obligation bonds and revenue bonds. 
D) Like general obligation bonds, revenue bonds have the resources of the general treasury behind them. 
E) Governments may take on short-term debt, usually for a year or less.

Question 8

What are the three criteria a financial manager can use to evaluate his or her revenue options?

Accepted Answer

A financial manager can evaluate revenue

Question 9

What is debt management?

Accepted Answer

Debt management is a strategy or process

Question 10

Which of the following is NOT generally recognized as one of the pragmatic concepts with which a financial manager in the public sector should be acquainted when developing a tax system?

Accepted Answer

A)  horizontal equity 
B)  vertical equity 
C)  tax efficiency 
D)  tax effectiveness 
E)  tax overlapping 
A)  horizontal equity 
B)  vertical equity 
C)  tax efficiency 
D)  tax effectiveness 
E)  tax overlapping

Question 11

To make the budget process more flexible, the executive and legislative branches engage in certain compromises.Explain how the following compromises work: backdoor spending, reprogramming, transfers, and supplemental appropriations.

Accepted Answer

Backdoor spending occurs when the execut

Question 12

Among other things, auditing seeks to determine whether accounting controls prevent fraud.What are some of the more popular methods that have been used to steal from the government?

Accepted Answer

Fraud against the government can take ma

Question 13

Currently, the total federal debt as percentage of GDP is about

Accepted Answer

A)  10 
B)  20 
C)  40 
D)  80 
E)  160 
A)  10 
B)  20 
C)  40 
D)  80 
E)  160

Question 14

About what percentage of federal government spending in 2007 was discretionary?

Accepted Answer

A)  7 
B)  24 
C)  37 
D)  62 
E)  85 
A)  7 
B)  24 
C)  37 
D)  62 
E)  85

Question 15

Distinguish accrual accounting from cost accounting.

Accepted Answer

Accrual accounting and cost accounting a

Describe the four basic phases out the federal budget cycle.

Which of the following authors identified various strategies managers can and do use in the budget process?

refer to the following table. COMPARISON OF TWO REVENUE SOURCES -Type B tax is

Which of the following statements about new performance budgeting is INCORRECT:

Which of the following is an off-budget item?

Which statement about the bonds offered by state and local government is INCORRECT?

What are the three criteria a financial manager can use to evaluate his or her revenue options?

What is debt management?

Which of the following is NOT generally recognized as one of the pragmatic concepts with which a financial manager in the public sector should be acquainted when developing a tax system?

To make the budget process more flexible, the executive and legislative branches engage in certain compromises.Explain how the following compromises work: backdoor spending, reprogramming, transfers, and supplemental appropriations.

Among other things, auditing seeks to determine whether accounting controls prevent fraud.What are some of the more popular methods that have been used to steal from the government?

Currently, the total federal debt as percentage of GDP is about

About what percentage of federal government spending in 2007 was discretionary?

Distinguish accrual accounting from cost accounting.

The Nature of Public Administration

The Political-Legal Environment of Administration

Intergovernmental Relations

Administrative Responsibility and Ethics

Planning

Decision Making

Organizing

Leading

Implementation

Human Resources Management

Information Management

Filters

Exam 11: Public Financial Management

Describe the four basic phases out the federal budget cycle.

Which of the following authors identified various strategies managers can and do use in the budget process?

refer to the following table. COMPARISON OF TWO REVENUE SOURCES -Type B tax is

Which of the following statements about new performance budgeting is INCORRECT:

Which of the following is an off-budget item?

Which statement about the bonds offered by state and local government is INCORRECT?

What are the three criteria a financial manager can use to evaluate his or her revenue options?

What is debt management?

Which of the following is NOT generally recognized as one of the pragmatic concepts with which a financial manager in the public sector should be acquainted when developing a tax system?

To make the budget process more flexible, the executive and legislative branches engage in certain compromises.Explain how the following compromises work: backdoor spending, reprogramming, transfers, and supplemental appropriations.

Among other things, auditing seeks to determine whether accounting controls prevent fraud.What are some of the more popular methods that have been used to steal from the government?

Currently, the total federal debt as percentage of GDP is about

About what percentage of federal government spending in 2007 was discretionary?

Distinguish accrual accounting from cost accounting.

The Nature of Public Administration

The Political-Legal Environment of Administration

Intergovernmental Relations

Administrative Responsibility and Ethics

Planning

Decision Making

Organizing

Leading

Implementation

Human Resources Management

Information Management

Filters