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Certified Government Auditing Professional Questions and Answers

Question 5

_________ is a contract that provides for payment of allowable incurred costs to the extent prescribed in the contract. Where as ___________ a cost-reimbursement contract in which the contractor receives no fee and is reimbursed only for an agreed-upon portion of its allowable costs:

Options:

Cost sharing, Cost-plus-incentive-fee

Cost-plus-fixed-fee is, Cost-plus-incentive-fee

Cost-reimbursement, Cost sharing

Cost-plus-incentive-fee, Cost sharing

Question 6

All of the following are major steps in the strategic planning process EXCEPT:

Options:

To develop the general outline.

Develop one or more general statements that address what the entity aims to achieve.

Develop specific plans, a method for achieving those plans, and resource allocations. The plans should contain measurable objectives and implementation or achievement time frames.

Communicate the plan to affected staff. Consider sharing early drafts of the plan with staff to obtain their input and to ensure their support of the plan.

Question 7

The basic elements of effective decision-making are also used as standard guidelines for information technology project management practices. All of the following are the basic steps in decision-making EXCEPT:

Options:

Identify possible solutions that will address the problem. Consider how each possible solution will influence affected groups.

Define the problem.

Identify the interests and values of individuals and groups affected by the problem.

Monitor the plan and its effectiveness. Strategic plans are dynamic tools, not static documents. Management should constantly monitor the effect of changes in the entity’s external environment and modify the strategic initiatives as necessary.

Question 8

The primary purpose of budgeting is to allocate resources among government activities. all of the includes the basic framework for budgeting EXCEPT:

Options:

Control.

Accountability.

Evaluation

planning

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Certified Government Auditing Professional Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce