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Accounting Overview Webinar Quiz

Cesar BenavidesAugust 6, 2017Financial Management

Complete the questions below to finish your online course. If you fail the quiz, you can take it as many times as you need, just go back and review the sections of the course and then re-take the quiz.

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Question 1 of 12

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

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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

Incorrect
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
Correct

Incorrect
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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