Government Auditing: Financial Management Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which of these is NOT discretionary?

Question 2 2. What is activity-based costing?

Question 3 3. Why do citizens often criticize pork barrel spending?

Question 4 4. What is the biggest component of the federal budget?

Question 5 5. Identifying, accumulating, and assigning costs to a cost object is known as what?

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Question 6 6. Which of the following is paid for using federal tax dollars?

Question 7 7. About what percentage of federal spending is spent on interest on debt?

Question 8 8. ABC Electronics produces computer chips. They produced 7,000 units and incurred a cost of $1500 to maintain the machinery used to produce them. What is the activity rate pertaining to machine maintenance as a cost driver?

Question 9 9. For the majority of states, where does revenue originate for state level government?

Question 10 10. An item a company wants to separately assign a cost is known as what?

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Question 11 11. About what percentage of the budget is made up of discretionary spending?

Question 12 12. Which is an example of pork barrel spending?

Question 13 13. What is an activity cost pool?

Question 14 14. In which budget would you find activity-based costing?

Question 15 15. How do congressmen add pork barrel spending projects to a bill?

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Question 16 16. Income taxes are paid using what method?

Question 17 17. Which of the following is a feature of the federal income tax in the United States?

Question 18 18. As a percentage of total revenue, individual income tax has _____ over time.

Question 19 19. Which one is not a term or step in cost allocation?

Question 20 20. Which level of government relies mainly on property taxes?

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Question 21 21. What kind of document would be used to report activity-based costing?

Question 22 22. The process of gathering costs for a cost object in order for them to be assigned is known as what?

Question 23 23. Name the largest source of revenue for the federal government of the United States, as of 2016.

Question 24 24. Payroll taxes are most closely related to which of the following?

Question 25 25. The goal of what step is to spread cost fairly?

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Question 26 26. Which of the following is true of corporate income taxes?

Question 27 27. What is the best comparison of the size of the U.S. Defense budget?

Question 28 28. How did Super Storm Sandy aid become subject to pork barrel spending?

Question 29 29. Why do congressman seek pork barrel spending for their districts?

Question 30 30. Alcohol, tobacco, motor fuel, and tanning are all subject to _____.

Government Auditing: Financial Management Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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