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Parks & Rec CPRP Exam Study Guide Solutions
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Parks & Rec CPRP Exam Study Guide Solutions Purchase Order - ANSWER-Is an agreement that the agency will pay for goods and services ordered P-Card - ANSWER-Works like a personal credit card. It has a limit on spending and is issued by the agency for agency purchases. Can also be designated for a...

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  • November 3, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • parks rec cprp exam study guide solutions

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  • Cprp
  • Cprp

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KaylinHoffman

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Parks & Rec CPRP Exam Study Guide Solutions


Purchase Order - ANSWER✔✔-Is an agreement that the agency will pay for goods and services ordered


P-Card - ANSWER✔✔-Works like a personal credit card. It has a limit on spending and is issued by the

agency for agency purchases. Can also be designated for a specific account. At end of month a detailed

billing statement is issued where all items purchased are detailed.


Credit card - ANSWER✔✔-Credit Card statements have less detail and require additional time for

accounting staff to reconcile each bill. Credit caed can carry over a balance each month.


Petty cash - ANSWER✔✔-Actual cash kept on hand for small purchases that do not warrant a purchase

order or the use of other methods of payments. Usually Not to exceed $100


Revenue - ANSWER✔✔-Revenues are monies coming into the organization. Revenue in parks & Rec

come in 5 general sources: compulsory income (or taxes), gratuitous income, earned income, contractual

receipts, investment income.


Compulsory Income - ANSWER✔✔-Revenue generated from taxes at the local, state or provincial and

federal levels


Real property taxes - ANSWER✔✔-Tax on land and anything that is built or growing on it.


Personal property taxes - ANSWER✔✔-A tax on household and business tangible property (such as cars

and furniture) and intangible property (such as stocks and bonds)


Sales Tax - ANSWER✔✔-A tax on a sale of merchandise or services




Copyright ©Stuvia International BV 2010-2024 Page 1/10

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


Excise tax - ANSWER✔✔-Specific goods and services such as hotel-motel taxes, car rental taxes, and "sin"

taxes for cigarettes and alcohol


Income Tax - ANSWER✔✔-A tax on people's earnings


Gratuitous Income - ANSWER✔✔-Revenue received without expectation of return, including grants,

gifts, donations, planned giving, sponsorships


Earned Income - ANSWER✔✔-Generated through fees and charges. Admission and entrance fees, rental

fees, user fees such as surcharges, and license and permit fees.


Contractual Receipts - ANSWER✔✔-Contract with private agencies and individuals to sell merchandise or

provide services for them on a contractual basis.


Income Statment - ANSWER✔✔-These statements demonstrate the profitability of the facility or cost

during a period of time such as a month, quarter, or fiscal year. The statement will include revenues,

expenses, and net income.


R.F.P. - ANSWER✔✔-A negotiated contract for goods and services with the vendor, which details what

they will do and at what costs.


Cash Flow Statement - ANSWER✔✔-This statement also examines revenues and expenditures, but the

statements depict whether it is positive or negative.


Budget Statement - ANSWER✔✔-Is a report of allocated and expenses monies. Allocated monies are

those which have been budgeted and approved by the governing body. Expended monies are the dollars

which have been spent to date.




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