Certified Government Financial Manager (CGFM) Practice Exam 2025 – Your All-in-One Guide to Exam Success!

In the context of budget organization, 'Object class' refers to the classification of expenditures by the nature of the items being procured or the services being rendered. This includes categorizing expenditures into specific types such as personnel costs, supplies, equipment, and contractual services. This classification helps in tracking how resources are allocated and consumed across different categories, allowing for better financial management and analysis.

By using object classes, governmental and financial managers can identify spending patterns, ensure compliance with regulations, and formulate more informed budget proposals. Understanding object classes is crucial for making decisions related to budgeting and to provide a clear view of how funds are deployed in support of operational and strategic objectives.

In this context, the other options do not accurately capture the definition of 'Object class'. For instance, budgetary revenue sources pertain to how funds are generated, while character of expenditure focuses more on the timing of expenses. The overall goals and objectives of the budget relate to strategic planning rather than expenditure classification.