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Question 1 of 10
1. Question
Net Profit/Loss is calculated using the following formula:
REVENUES + GAINS– EXPENSES– LOSSES
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Question 2 of 10
2. Question
A Cash Flow Forecast estimates the future cash balance and, therefore, solvency – which is your program’s ability to meet future financial obligation.
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Question 3 of 10
3. Question
An Accounts Receivable Aging Report provides information on the expenditures for a specific period or for a specific vendor.
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Question 4 of 10
4. Question
Libraries commonly use zero-based budgeting.
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Question 5 of 10
5. Question
Income statements offer a snapshot of the financial position of an initiative, like a library press, at a moment in time.
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Question 6 of 10
6. Question
A Statement of Cash Flows documents the movement of cash in (generated) and out (spent) during a given period of time.
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Question 7 of 10
7. Question
Income statements report real-time cash on-hand.
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Question 8 of 10
8. Question
In an income statement, the sale of assets is an example of a revenue.
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Question 9 of 10
9. Question
Why are budgets important?
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Question 10 of 10
10. Question
Cash, equities, accounts receivable, inventory, and prepaid expenses are examples of:
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