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OJS4JM – Module 20 Quiz

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  1. Question 1 of 10
    1. Question

    Net Profit/Loss is calculated using the following formula:

    REVENUES + GAINS– EXPENSES– LOSSES

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  2. 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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  3. 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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  4. Question 4 of 10
    4. Question

    Libraries commonly use zero-based budgeting.

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  5. 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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  6. 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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  7. Question 7 of 10
    7. Question

    Income statements report real-time cash on-hand.

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  8. Question 8 of 10
    8. Question

    In an income statement, the sale of assets is an example of a revenue.

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  9. Question 9 of 10
    9. Question

    Why are budgets important?

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  10. Question 10 of 10
    10. Question

    Cash, equities, accounts receivable, inventory, and prepaid expenses are examples of:

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