Under IPSAS 17, which methods can be used to calculate depreciation Under IPSAS 17, which methods can be used to calculate depreciation? (Select all that apply) A) Straight-line method B) Reducing b

What does "Value for Money" (VfM) in public sector mean What does "Value for Money" (VfM) in public sector mean? (Select all that apply) A) Economy B) Efficiency C) Effectiveness D) Equity Answer

Which of the following are key principles of public sector ethics according to CIPFA Which of the following are key principles of public sector ethics according to CIPFA? (Select all that apply) A) I

Which of the following is NOT a key component of public sector financial governance Which of the following is NOT a key component of public sector financial governance? A) Clear lines of accountabili

Under IPSAS 17, how should depreciation be calculated Under IPSAS 17, how should depreciation be calculated? A) Straight-line method only B) Reducing balance method only C) Either straight-line or

What does the term "Value for Money" mean in public sector financial management What does the term "Value for Money" mean in public sector financial management? A) Getting the best possible outcomes

Which of the following is a characteristic of public sector budgeting Which of the following is a characteristic of public sector budgeting? A) Focus on short-term goals B) Emphasis on inputs rather

What is the role of the CIPFA in public sector accounting .What is the role of the CIPFA in public sector accounting? A) Setting accounting standards for public sector organizations B) Regulating pu

Under IPSAS 9, when should revenue from exchange transactions be recognized Under IPSAS 9, when should revenue from exchange transactions be recognized? A) When cash is received B) When the signific

Which of the following is NOT a type of reserve in public sector accounting Which of the following is NOT a type of reserve in public sector accounting? A) Usable reserves B) Non-usable reserves C)

What is the purpose of a budget variance analysis in public sector organizations What is the purpose of a budget variance analysis in public sector organizations? A) To compare actual spending with b

Which of the following is a key challenge facing public sector organizations in financial management Which of the following is a key challenge facing public sector organizations in financial managemen

Under IPSAS 3, how should changes in accounting policies be accounted for Under IPSAS 3, how should changes in accounting policies be accounted for? A) Prospectively B) Retrospectively C) Current y

What does the term "Stewardship" mean in public sector accounting What does the term "Stewardship" mean in public sector accounting? A) Managing public funds in a responsible and accountable manner

Which of the following is a source of revenue for public sector organizations Which of the following is a source of revenue for public sector organizations? A) Dividends from investments B) Sales re

What is the main objective of public sector financial reporting What is the main objective of public sector financial reporting? A) To maximize shareholder wealth B) To provide information for decis

Which of the following is NOT a key function of a public sector internal audit Which of the following is NOT a key function of a public sector internal audit? A) Testing the effectiveness of internal

Under IPSAS 17, how should property, plant, and equipment be initially measured Under IPSAS 17, how should property, plant, and equipment be initially measured? A) Cost B) Fair value C) Net realiza

What is the purpose of a risk register in public sector organizations What is the purpose of a risk register in public sector organizations? A) To record all financial transactions B) To identify an

Which CIPFA module focuses on strategic financial management issues facing public service finance leaders Which CIPFA module focuses on strategic financial management issues facing public service fina

What is the pass mark for most CIPFA professional qualification exams What is the pass mark for most CIPFA professional qualification exams? A) 40% B) 50% C) 60% D) 70% Answer: B Explanation: Th

Which of the following is NOT a source of finance for public service organizations Which of the following is NOT a source of finance for public service organizations? A) Taxation B) User charges C)

Under IPSAS 12, how should inventories be measured Under IPSAS 12, how should inventories be measured? A) Historical cost B) Net realizable value C) Lower of cost and net realizable value D) Fair

What does Virement refer to in public sector budgeting What does Virement refer to in public sector budgeting? A) The transfer of monies from one budget head to another B) A budget deficit C) A bud

CMA Official Website CMA Official Website: https://www.imanet.org/certification/cma CMA Official Overview: CMA (Certified Management Accountant) is a globally recognized professional certification in