Nj cala finance - Study guides, Class notes & Summaries

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 though the expenses are not yet paid *Record income when a bill is...

Cash Basis Accounting : 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 : 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 paid *Record income when a bill is writt...

NJ CALA Finance Study Guide With 100% Correct Solutions

2024 NJ CALA FINANCE EXAM WITH CORRECT ANSWERS

NJ CALA FInanceCash 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 pa...

NJ CALA FInance with complete solution

NJ CALA Finance Exam Questions and Answers

NJ CALA FINANCE EXAM QUESTIONS AND CORRECT ANSWERS

NJ CALA Finance Exam Review with 100% Correct Answers Cash Basis Accounting *Ans* 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 *Ans* 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...