Appendix 7: Answers to Reinforcement Quizzes
Answers to Reinforcement Quiz ñ Section IV, Chapter 3
1. What are the current requirements of the GASB regarding service efforts
and accomplishments (SEA) reporting?
a.
The GASB requires SEA reporting for compliance with GAAP.
b.
The GASB requires SEA reporting, but only as part of the
comprehensive annual financial report.
c.
The GASB requires SEA reporting to be in a separate report.
d.
The GASB has issued no formal standards requiring SEA reporting.
Answer: (d). The GASB has issued a concepts statement regarding
SEA reporting. Concepts statements do not establish formal reporting
requirements. Instead, concepts statements are intended to guide the
GASB in developing reporting standards and to help users understand
the thinking underlying the standards. As yet, the GASB has issued no
formal standards requiring SEA reporting.
2. Which of the following is one of the three basic requirements of the GPRA
of 1993?
a. audited financial statements
b. annual budgets
c. strategic plans
d. statements of significant internal controls
Answer: (c). The GPRA has three basic requirements: strategic plans,
annual performance plans and program performance reports. Audited
financial statements and annual budgets are required, but not by the
GPRA.
3. Which of the following is an element of a strategic plan under the GPRA?
a.
audited financial statements for the past three years
b. a comprehensive mission statement
c.
a detailed procedures manual
d. a description of the accounting system
Answer: (b). The GPRA requires agencies to prepare mission
statements. In addition, the GPRA requires the following: a statement
of general goals and objectives; a description of how the goals and
objectives are to be achieved; a description of how the performance
goals included in the annual performance plan relate to the general
goals and objectives; an identification of key external factors that could
affect achievement of the general goals and objectives; and a
description of program evaluations used in establishing the general
goals and objectives.
Online version, for personal use only
AGA Study Guide 3, 2016 Edition

Appendix 7: Answers to Reinforcement Quizzes
4. In accordance with the requirements of the GPRA, which of the following
are elements of annual performance plans?
a.
mission statements and general goals
b. financial statements and performance statements
c.
identification of factors external to the agency that could impact
achievement of its goals and objectives
d. performance goals and performance indicators
Answer: (d). The GPRA requires that annual performance plans
include a statement of performance goals that define the level of
expected performance, as well as a listing of the indicators that will be
used to measure outputs and outcomes. Annual performance plans
also include a description of the operational processes and resources
required to meet the performance goals and the means used to
validate the measurements.
5. In what form should GPRA performance goals be expressed?
a.
in the form of broad strategic goals
b. in an objective, quantifiable and measurable form
c.
only in the form of output goals
d. in the form of goals to be achieved in five years
Answer: (b). In accordance with the GPRA, performance goals must
be expressed in an objective, quantifiable and measurable form,
unless authorized by the Office of Management and Budget to be in an
alternative form. Although output goals are likely to predominate, they
can also be outcomes goals and efficiency goals.
6. What are the requirements of federal government annual performance
reports regarding comparisons?
a.
Current-year results should be compared with current year
performance goals and the actual results provided for the five
previous years.
b. Current-year results should be compared with the general goals
included in strategic plans.
c.
Current-year results should be stated without any comparative data.
d. Current-year expenditures should be compared with budgeted
expenditures.
Answer: (a). In accordance with the GPRA, annual performance
reports should contain a comparison of actual results with the
performance goals expressed in the performance plan for the year,
plus actual results should be presented for the five preceding years.
Online version, for personal use only
AGA Study Guide 3, 2016 Edition

Appendix 7: Answers to Reinforcement Quizzes
7. In federal government performance measurement, which of the following is
a distinction between general goals and performance goals?
a.
General goals deal with outcomes; performance goals deal with
outputs.
b. General goals are broad statements of intended results;
performance goals are narrow statements of intended results.
c.
General goals relate to accomplishment over a period of time;
performance goals relate to expected progress in a fiscal year.
d. Progress toward achieving general goals cannot be assessed;
progress toward achieving performance goals can be ...











































































































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AGA CGFM Study Guide 3: Governmental Financial Management and Control