Nj cala finance - Study guides, Revision notes & Summaries

NJ CALA Finance Exam 2024 Actual Questions with Verified Answers, 100% Guarantee Pass

Credits - ️️An entry made on the right side of the account Operating Expenses - ️️resident care, plant operations, dietary, housekeeping, laundry, general & admin, depreciation, interest, total operating expenses Double Entry Accounting - ️️Recording of a debit and credit for each transaction **Debits must always equal credits** Debits - ️️An entry made on the left side of the account Journals - ️️The organization's "books" where transactions are first recorded befor...

NJ CALA Finance Exam Questions & Answers

NJ CALA Finance Exam Questions With 100% Verified Answers. Cash Basis Accounting - answerKeeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - answerKeeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even thoug...

NJ CALA Finance Cash Basis Accounting - correct answer Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - correct answer Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even though the expenses are not yet ...

NJ CALA Finance Exam Questions and Answers 100% Correct Score Cash Basis Accounting - Correct Answer ️️ -Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - Correct Answer ️️ -Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurr...

NJ CALA Finance Exam Questions and Answers 100% Correct Score Cash Basis Accounting - Correct Answer ️️ -Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - Correct Answer ️️ -Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurr...

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NJ CALA FInance Questions with complete solution 2023/2024 Cash Basis Accounting - correct answer Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - correct answer Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal pe...