CPRP Finance Exam Study Guide with Complete Solutions

CPRP Finance Exam Study Guide with Complete Solutions Income Statement - Answer️️ -Which financial statement shows the total revenues and expenditures for the month, quarter, or fiscal year? Income Statement - Answer️️ -Its purpose is to demonstrate profitability of the agency or cost center Excise Tax - Answer️️ -Hotel-motel taxes, rental car taxes, and "sin" taxes are considered what type of tax? A $10 replacement basketball net - Answer️️ -Which of the following purchases is most likely to be made with petty cash? Budget Object - Answer️️ -In the following example what is "salaries, regular": 1100 Salaries, regular 01 Administration 02 Recreation 03 Golf 04 Operations ©SOPHIABENNETT@ Monday, August 26, 2024 6:09 AM 2 1000 - Answer️️ -Tax rates are sometimes expressed in mills. How many mills is $1? Blanket Purchase Order - Answer️️ -The maintenance foreman in charge of plumbing regularly purchases plumbing supplies at the local hardware store. These purchases are made at least three days per week. What is the best way to purchase items in this situation? Budget Classification - Answer️️ -In the following example, what is "1,000: Services: Personnel" considered? 1000: Services: Personnel 1100 Salaries, regular 01 Administration 02 Recreation 03 Golf 04 Operations Daily - Answer️️ -Room counts should be conducted how often in a busy facility? Balance Sheet - Answer️️ -Which financial statement depicts assets, liabilities and equity? It is a summary of what the agency owes and what it owns outright. ©SOPHIABENNETT@ Monday, August 26, 2024 6:09 AM 3 P-Cards have a rolling monthly balance - Answer️️ -Which statement is false regarding a P-Card? Standard Purchase Order - Answer️️ -One time delivery for a specific good or service. When the goods or services delivered are paid in full, the order in complete Budget Statements - Answer️️ -A report of allocated and expended monies. Cash Flow Statement - Answer️️ -Depicts whether cash flow is positive or negative. Shows money coming into and and going out of the ag