CPFO EXAM PREPARATION

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Question #1 (Topic: Demo Questions)

What is the primary purpose of a government budget?

Maximize company profits

Allocate public resources and establish financial priorities

Eliminate all government debt

Increase employee salaries only

Correct Answer: B

Question #2 (Topic: Demo Questions)

Which financial statement reports a government's assets, liabilities, and net position?

Statement of Activities

Balance Sheet

Statement of Cash Flows

Budget Report

Correct Answer: B

Question #3 (Topic: Demo Questions)

What is the main purpose of debt management?

Increase borrowing every year

Manage borrowing costs and financial risks

Eliminate taxation

Reduce government services

Correct Answer: B

Question #4 (Topic: Demo Questions)

Which investment generally has the lowest credit risk among these options?

Corporate junk bonds

U.S. Treasury securities

Common stocks

Speculative bonds

Correct Answer: B

Question #5 (Topic: Demo Questions)

What is the primary objective of internal controls?

Prevent and detect errors and fraud

Increase operating expenses

Eliminate financial reporting

Replace external audits

Next Question

Correct Answer: A

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