AGA Exam CGFM Topic 3 Question 61 Discussion

Actual exam question for AGA's CGFM exam

Question #: 61
Topic #: 3

[All CGFM Questions]

A capital asset transferred to another department within the same government should be

Arecorded with the original department to maximize receipts.

Brecorded with the second department to minimize costs.

Cretained in the government's fixed asset tracking system with no change in book value to either department.

Dretained in the government's fixed asset tracking system showing the book value of the asset transferred to the receiving department.

Show Suggested Answer

Suggested Answer: D

by Curt at Oct 23, 2024, 09:57 PM

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2 days ago

Hmm, I'm torn between B and D. I guess it depends on whether we want to minimize costs or have a clear record of the transfer.

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12 days ago

I disagree. I think the asset should be recorded with the second department to minimize costs.

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13 days ago

I think Option D is the right choice. It's important to reflect the asset's transfer and the receiving department's book value.

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14 days ago

Option C is the way to go! Keeping the asset in the tracking system with no change in book value is the most straightforward approach.

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22 days ago

I agree with Ona. It makes sense to keep track of the asset without changing the book value for either department.

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23 days ago

I think the capital asset should be retained in the fixed asset tracking system with no change in book value to either department.

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