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Accounting Overview Webinar Survey

Dan HernandezOctober 4, 2017Financial Management

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Question 1 of 12

1. Question
Charter schools operate under the Full Accrual method of accounting.
- True
- False
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Question 2 of 12

2. Question
GAAP is the acronym for
- Generally Accepted Auditing Program
- Genuinely Accepted Accounting Protocol
- Generally Accepted Accounting Principals
- Good Accounting Standards Piece
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Question 3 of 12

3. Question
Your school’s ________ is an indicator of fiscal management and a tool for control and evaluation.
- Budget
- Spreadsheet
- FASRG
- GAAP
Correct

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Question 4 of 12

4. Question
The account code structure is made up of
- 20-digits that are all mandatory for charter schools to use
- 20-digits where only 8 are mandatory for charter schools to use
- 20-digits where only 15 are mandatory for charter schools to use
- Only 10-digits and all are mandatory
Correct

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Question 5 of 12

5. Question
The account code structure begins with a 3-digit code which references the FUND.
- True
- False
Correct

Incorrect
Question 6 of 12

6. Question
The _________ is the budget officer for the charter district and prepares or causes the budget to be prepared.
- Child Nutrition Manager
- Superintendent
- Maintenance Director
- Technology Coordinator
Correct

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Question 7 of 12

7. Question
The following object codes are used to classify payroll expenditures
- 1500
- 6400
- 6200
- 6100
Correct

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Question 8 of 12

8. Question
Charter schools use object code 66XX to code capital assets
- True
- False
Correct

Incorrect
Question 9 of 12

9. Question
The following are all examples of contracted services except
- Installing a fence at a campus
- Painting the gymnasium
- Custodial services
- Purchasing paper from office depot
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Question 10 of 12

10. Question
Submitting your Annual Financial Report in a timely manner is Critical Indicator #1 on the FIRST Rating.
- True
- False
Correct

Incorrect
Question 11 of 12

11. Question
TEA states that fixed assets should be capitalized when an item costs more than
- $2,500
- $10,000
- $5,000
- $500
Correct

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Question 12 of 12

12. Question
Monthly _____ _____ are a good way to monitor expenses in order to determine if a budget amendment will be needed.
- Board Reports
- Inventory Reports
- FASRG
- Critical indicators
Correct

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