FAR Sample CPA Exam Questions

CPA Pop Quiz Quiz #591: FAR – State and Local Governments

Thank you for taking our Financial Accounting and Reporting (FAR) review quiz. Check back again for five new sample BEC CPA questions to help you prepare for the exam.


Which of the following should be considered part of one of the three primary user groups of the external financial reports of a state government?

  • Citizens of a neighboring state.
  • Advocate groups within the state.
  • Preparers of state government financial reports.
  • Internal managers in the executive branch of the state government.
Correct Answer B

Advocate groups are part of one of three categories of primary users of government financial reports as identified by GASB Concept Statement No. 1: the citizenry (to which the government is accountable to), legislative and oversight bodies (who represent the citizenry), and investors and creditors (those who lend or participate in the lending process). The citizenry group includes citizens, the media, advocate groups, and public finance researchers.


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Professor Donald R. Deis Jr. — Ph.D., CPA, MBA, CFEThis free quiz question was presented by Wiley CPAexcel Author: Professor Donald R. Deis Jr. — Ph.D., CPA, MBA, CFE
Texas A&M University, Corpus Christi: Ennis & Virginia Joslin Endowed Chair in Accounting, College of Business
Wiley CPAexcel Author, Video Lecturer & FAR Mentor

Learn more about Donald R. Deis Jr. — Ph.D., CPA, MBA, CFE


End of quiz

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