Free AGA GAFRB Exam Questions

Absolute Free GAFRB Exam Practice for Comprehensive Preparation 

  • AGA GAFRB Exam Questions
  • Provided By: AGA
  • Exam: Exam 2 - Governmental Accounting, Financial Reporting and Budgeting
  • Certification: Certified Government Financial Manager
  • Total Questions: 116
  • Updated On: May 23, 2026
  • Rated: 4.9 |
  • Online Users: 232
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  • Question 1
    • Which type of cost is generally allowed for a grant under the OMB Uniform Guidance?  

      Answer: C
  • Question 2
    • The objectives of federal financial reporting include all of the following EXCEPT


      Answer: C
  • Question 3
    • A state department has been developing a new computer system for managing federal grants. The project has the following costs: 

      What amount should be recorded as the value of the intangible asset?  


      Answer: C
  • Question 4
    • Which of the following events is an example of an expenditure but not an expense?  

      Answer: C
  • Question 5
    • In state and local financial audits, material weaknesses must be reported to the 

      Answer: B
PAGE: 1 - 24
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