Cmfo exam current fund Study guides, Class notes & Summaries

CMFO Exam Current Fund exam questions and 100% correct answers

CMFO Exam - Current Fund Journal Entries Complete Study Solutions With Real Study Solutions CMFO Exam - Current Fund Journal Entries Complete Study Solutions With Real Study Solutions

Name the two types of local units of government in NJ - 1. Municipalities 2. Counties A municipality & county are essentially: - - corporations created by the State's Constitution and statutes A municipal corporation is designed to: - - aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - 1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acquire property 4. to acquire, lease, an...

True - ANSWER-T/F: Due from State of New Jersey for Senior citizen Deductions can be anticipated as a revenue in the current fund budget as non-cash surplus retirement of serial bonds - ANSWER-Trust Assessment Fund cash is first pledged to: quarterly basis - ANSWER-Municipal Library Levy is paid on a True - ANSWER-T/F: budget transfers from Capital Improvement Fund are not permitted Corrective Action Plan - ANSWER-Finding/Condition; Recommendation; explanation & corrective action; im...

Current Fund Journal Entries - CMFO Exam With A+ Graded Questions and 100% Correct Answers Recording the budget - CORRECT ANSWER-Dr. Fund Balance Dr. Miscellaneous Revenues Dr. Receipts from Delinquent taxes Dr. Amount to be raised by Taxation Cr. Appropriations (S&W, OE) Cr. Reserve for Uncollected Taxes - to post the current year budget Charging off Reserve for Uncollected Taxes - CORRECT ANSWER-Dr. Budget Appropriations - Reserve for Uncollected Taxes Cr. Amount to be raised by Ta...

CMFO Exam Question Bank Correctly Answered 2023

Name the two types of local units of government in NJ - correct answer 1. Municipalities 2. Counties A municipality & county are essentially: - correct answer - corporations created by the State's Constitution and statutes A municipal corporation is designed to: - correct answer - aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - correct answer 1. to sue & be sued, to defend & be defended in all courts of law 2. to ad...

Name the two types of local units of government in NJ - Answer-1. Municipalities 2. Counties A municipality & county are essentially: - Answer-- corporations created by the State's Constitution and statutes A municipal corporation is designed to: - Answer-- aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - Answer-1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acquire pro...

Name the two types of local units of government in NJ - ANSWER-1. Municipalities 2. Counties A municipality & county are essentially: - ANSWER-- corporations created by the State's Constitution and statutes A municipal corporation is designed to: - ANSWER-- aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - ANSWER-1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acquire pro...

Special improvement district budgets must be approved by - ANSWER-- the governing body of the municipality Type 1 school district budgets are approved by: - ANSWER-- the board of school estimates - its one of the differences between type 1 & type 2 Special district budgets (like Fire districts) are approved by: - ANSWER-- the voters Equalized valuation represents: - ANSWER-- the true value of all taxable property in the municipality - for distributing school aid Special meetings of...