Nj Cala Finance Questions And Answers 100% Verified A+ Guaranteed

Operating Budget {Ans: A 1 year projection of what you believe will be the ongoing day to day expenses of the organization. (Salaries, raw food costs, etc)}Accounting {Ans: Begins with writing down in dollars and cents, what is received and what is paid. A system of: Recording financial data Monitoring financial data Using financial data}Credits {Ans: An entry made on the right side of the account}Capital Budget {Ans: A 1 to 5 projection of the capital items you believe will be needed or replaced for the proper functioning of the business. (Will we need a new van? etc)}Chart of Accounts {Ans: A systematic arrangement or listing of all general ledger accts by category with corresponding general ledger acct numbers. Assets are listed first, followed by liabilities, equity, revenue, and expense accts.}Debits {Ans: An entry made on the left side of the account}