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GFOA Exam CPFO Topic 1 Question 88 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 88
Topic #: 1
[All CPFO Questions]

Fund-level financial statements are prepared to present:

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Suggested Answer: C

by Herman at May 23, 2024, 11:53 PM

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Annamaria
1 months ago
Wait, is this a trick question? I feel like the answer should be obvious, but I'm second-guessing myself now. Maybe I need to brush up on my governmental accounting knowledge.
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Leota
4 days ago
User 3: Yeah, I agree with Leota. That seems like the most comprehensive option.
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Malcom
22 days ago
User 2: I think the answer is A) both a short and long term perspective on governmental finances.
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Renea
27 days ago
User 1: Don't second-guess yourself, just go with your gut.
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Frank
2 months ago
As an accountant, I have to say option B is the way to go. That's the whole point of fund-level statements - to provide information on the government's financing activities.
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Dalene
16 days ago
I see your point, but I still think option B is the primary focus when preparing fund-level financial statements.
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Hildred
19 days ago
I think option A is also important because it gives a comprehensive view of governmental finances.
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Tammy
30 days ago
I agree, option B is definitely the most important aspect of fund-level financial statements.
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Salena
2 months ago
Haha, option A sounds like it's trying to be a little too ambitious. I doubt fund-level statements would give both a short and long-term perspective on the whole government's finances.
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Sol
1 months ago
Yeah, I don't think fund-level statements would cover both short and long-term perspectives.
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Suzi
1 months ago
I think option B makes more sense, focusing on financing activities.
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Wilbert
2 months ago
Option A does seem a bit ambitious, I agree.
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Shawn
2 months ago
Hmm, I was thinking option D, but after reading the question again, I think C makes the most sense. The statements provide a more narrowly focused view than government standards require.
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Ira
1 months ago
I was initially leaning towards option D as well, but now I see that option C is the better choice. The focus is indeed more narrow than government standards.
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Rolland
2 months ago
I also think option C is the correct answer. It makes sense that the statements would be more specific than what is required by government standards.
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Moon
2 months ago
I agree, option C seems to be the most accurate. Fund-level financial statements are more narrowly focused than what government standards mandate.
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Barrett
2 months ago
I'm pretty sure option B is the correct answer here. Fund-level financial statements focus on the financing activities of the government.
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Tammi
2 months ago
I'm not sure, but I think it could also be B) information on financing activities, as that is important for transparency.
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Ben
3 months ago
I agree with Remona, fund-level financial statements should provide a comprehensive view of government finances.
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Remona
3 months ago
I think the answer is A) both a short and long term perspective on governmental finances.
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