Cmfo Study guides, Class notes & Summaries

CMFO Exam Questions And Complete Solutions

CMFO Practice Questions And Answers | Complete Solutions 2023 Accounts Receivable - A/R Amounts owed to you by other parties, such as taxpayers, other agencies & financial institutions and shown on its balance sheet as an asset Chart of Accounts The standard system of account titles kept for accounting records - Flexible Chart of Accounts (FCOA) -Use to organize and segregate expenditures, revenues, assets, and liabilities Accounting Equation Asset = Liabilities (reserve) + Fund Balanc...

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CMFO Exam - Current Fund Questions And Complete Answers

Local Bond Law (Statute #) - ANSWER-NJSA 40A:2 Local Budget Law (Statute #) - ANSWER-NJSA 40A:4 Local Fiscal Affairs Law (Statute #) - ANSWER-NJSA 40A:5 Local Public Contracts Law - ANSWER-NJSA 40A:11 Encumbrance System (TAD#) - ANSWER-TAD 85-1 Fixed Assets (TAD#) - ANSWER-TAD 85-2 General Ledger (TAD#) - ANSWER-TAD 85-3 Annual Audit Must be Conducted by a: - ANSWER-Registered Municipal Accountant Accounting Formula(s) - ANSWER-Assets = Liabilities + Fund Balance or Ass...

Every Audit Required by the Local Fiscal Affairs Law is required to be completed by: - ️️An RMA (Registered Municipal Accountant) The statutory responsibility for filing the AFS is assigned to: - ️️CFO A local government officer that serves on the agency that approves development applications refers to a member of which board? - ️️Planning Board Cash management plan must be approved annual by the: - ️️Governing Body The local bond law stipulates that the maturities of...

CMFO Exam - Practice Questions & Answers 2023(A+GRADED 100%VERIFIED)

CMFO Exa1

CMFO Exam Statutes Review Questions And Answers With Verified Solutions 2023 Registered Municipal Accountant Every audit required by the Local Fiscal Affairs Law N.J.S.A. 40A:5-9 is required to be completed by an accountant or auditor who holds an uncanceled license as: Chief Financial Officer The statutory responsibility for the filing of the Unaudited Annual Financial Statements is assigned to which local government official by N.J.S.A. 40A:5-12 Planning Board As defined in the "Local...

Accounts Receivable - A/R - ️️Amounts owed to you by other parties, such as taxpayers, other agencies & financial institutions and shown on its balance sheet as an asset Chart of Accounts - ️️The standard system of account titles kept for accounting records - Flexible Chart of Accounts (FCOA) -Use to organize and segregate expenditures, revenues, assets, and liabilities Accounting Equation - ️️Asset = Liabilities (reserve) + Fund Balance (surplus) Dr = Cr + Cr - Balance Sh...