10 free CGFM practice questions in the real exam format, covering the official content areas, with an explanation for every answer.
CGFM Practice Test 1Tutor mode
Question 1 of 10
Governmental Financial Accounting, Reporting and Budgeting: General Knowledge
For six straight years a city has adopted balanced general fund budgets in part by contributing only 60% of the actuarially determined contribution to its pension plan, leaving the unfunded liability to grow. This practice most directly conflicts with the GASB concept of