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CDFM Module 3 Practice Questions - CDFM Module 3 - Accounting & Finance Exam

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About this Exam

Prepare with the CDFM Module 3 Practice Questions - CDFM Module 3 - Accounting & Finance Exam practice quiz. This question bank includes 100 questions covering federal, treasury, financial, agencies, and payment. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
Which organization issues federal accounting standards (SFFAS) recognized as GAAP for U.S. federal entities?
Federal Accounting Standards Advisory Board (FASAB)
Financial Accounting Standards Board (FASB)
Governmental Accounting Standards Board (GASB)
Government Accountability Office (GAO)
Question 2
Which law established the position of CFO in 24 major federal agencies and required audited financial statements?
Chief Financial Officers (CFO) Act of 1990
Federal Managers' Financial Integrity Act of 1982
Government Performance and Results Act of 1993
Sarbanes-Oxley Act of 2002
Question 3
Which authority requires federal agencies to maintain accounts and prepare reports using the United States Standard General Ledger (USSGL)?
Treasury Financial Manual (TFM), Supplement S2
OMB Circular A-11
DoD FMR Volume 4
GAO Green Book
Question 4
Which federal financial statement reports an agency's gross cost of operations less earned revenue, by responsibility segment?
Statement of Net Cost
Balance Sheet
Statement of Changes in Net Position
Statement of Budgetary Resources
Question 5
Under the Prompt Payment Act, what is the standard payment due date for a properly submitted invoice when no other date is specified by contract?
30 days after receipt of a proper invoice
15 days after receipt of a proper invoice
45 days after receipt of a proper invoice
60 days after receipt of a proper invoice

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Additional Information

CDFM Module 3 Practice Questions - CDFM Module 3 - Accounting & Finance Exam

This practice set contains 100 questions from the matching question bank and focuses on federal, treasury, financial, agencies, and payment. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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