Exam 11: Budget

The director should always hire a collection agency to collect unpaid tuition payments.

Fixed expenses include

A first-time operating budget must estimate income from all sources.

Tricycles, garbage cans, and desks are all examples of __________.

The time frame in which a specific budget is in use is called the

An audit is done for the purpose of determining whether there has been any fraud.

List the controllable expenses that might be included in a budget.

The _____ is one of the most important written documents that a center has.

What is the purpose of an audit?

MATCHING a.a statement of goals for one year, stated in financial terms b.a schedule for compiling budget data c.expenses that vary and over which the director has some control d.expenses that do not vary, or change very little, over periods of time e.mandated or voluntary benefits that are added to personnel expenses f.largest portion of the budget g.nonexpendable items that are not replaced in a short period of time h.costs that cover rent or mortgage payments of the building i.major source of income j.the number of children who must be served in a program to generate enough income to cover costs -variable expenses

Salaries consume the largest portion of a budget, on average

Large corporate schools may design a logo to __________.

A budget justification explains why a particular item is necessary.

The line item that includes bus service, the cost of gas, and journeys to and from field trips is called __________.

A major source of income in private centers is __________.

A budget calendar is a time line for paying expenses.

Nonexpendable items are those that are not consumed in a short period of time.List examples.

A budget is a statement of goals in __________ terms.

MATCHING a.a statement of goals for one year, stated in financial terms b.a schedule for compiling budget data c.expenses that vary and over which the director has some control d.expenses that do not vary, or change very little, over periods of time e.mandated or voluntary benefits that are added to personnel expenses f.largest portion of the budget g.nonexpendable items that are not replaced in a short period of time h.costs that cover rent or mortgage payments of the building i.major source of income j.the number of children who must be served in a program to generate enough income to cover costs -tuition