Complete CALA Exam 3 with 100% Correct Answers assistance with transfer *Ans* providing the physical assistance of no more than two facility staff while the resident moves between bed and a standing position or between bed, chair, or wheelchair managed

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 expenses are not yet paid *Record income when a bill is written *Record expense when an order is placed Double Entry Accounting *Ans* Recording of a debit and credit for each transaction **Debits must always equal credits** Debits *Ans* An entry made on the left side of the account Credits *Ans* An entry made on the right side of the account Journals *Ans* The organization's "books" where transactions are first recorded before posting to the general ledger. 5 types of journals: -Cash receipt journal -Cash disbursement journal -Account receivable journal -Account payable journal -General journal (recording transactions that don't fit in to the above 4 categories) Posting *Ans* The actual transcription of information from the journal into the general ledger. General Ledger *Ans* Recording summary of all transactions posted from each journal. The general ledger maintains a separate record for each acct as listed in the chart of accounts. Chart of Accounts *Ans* A systematic arrangement or listing of all general ledger accts by category with corresponding gener