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Exam Code: GAFRB
Exam Name: Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
Vendor: AGA

60 Questions & Answers
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NEW QUESTION: 1
Your company subscribes to an Office 365 Plan E3. A user named User1 installs Office Professional Plus for Office 365 on a client computer. From the Microsoft Online Services portal, you assign User1 an Office Professional Plus license. One month after installing Office, User1 can no longer save and edit Office documents on the client computer. User1 can open and view Office documents.
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C. Install the Office Customization Tool.
D. Install the Microsoft Online Services Sign-in Assistant.
Answer: D
Explanation:
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References:
http://technet.microsoft.com/en-us/library/gg702619(v=office.15).aspx

NEW QUESTION: 2






A. Option D
B. Option C
C. Option A
D. Option B
Answer: C

NEW QUESTION: 3
In the Security Policy shown here, which rule inhibits Rule 4?

A. Rule 1
B. Rule 3
C. Rule 2
D. No rule inhibits Rule 4.
Answer: D
Explanation:
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NEW QUESTION: 4
Which of the following are ordered correctly in the order of debt seniority in a bankruptcy situation?
I. Equity, Subordinate debt, Senior debt
II. Senior debt, Preferred stock, Equity
III. Secured debt, Accounts payable, Preferred stock
IV. Secured debt, DIP financing, Equity
A. I and IV
B. I
C. II, III and IV
D. II and III
Answer: D
Explanation:
Explanation
In a bankruptcy, equity ranks last. Preferred equity is one level above equity. Senior debt gets paid out first compared to junior debt, and secured debt is paid out first to the extent of the asset securing it (after which it counts as unsecured debt). Accounts payable and other short term liabilities are treated like unsecured creditors. Debtor-in-possession (DIP) financing ranks higher than any other asset as it is financing secured after the bankruptcy to continue the business.
Based on the above, statement I does not represent a correct ordering of seniority as equity is paid last.
Similarly, DIP financing receives higher priority than even secured debt, and therefore statement IV is incorrect. Therefore the only correct statements are II and III and Choice 'a' is the correct answer.


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