A center can expect to spend approximately ___ of its operating costs
for center staff and personnel.
a. 35
b. 50
c. 60
d. 70
Question 2The fiscal officer is responsible for withholding from each employees pay the appropriate
amount of money for ___
a. taxes
b. social security
c. Medicare
d. all of the above
Question 3The budget for an independent center ___.
a. should show a profit
b. should never show a profit
c. must show a profit if the director wants to receive a year-end bonus
d. all of the above
Question 4In terms of budget planning, individuals who are paid ____ are considered salaried employees.
a. weekly
b. bi-weekly
c. monthly
d. all of the above
Question 5Computers can help directors keep track of their finances, so directors should realize that ___.
a. computers may make them think they are in better financial situation than is really the case
b. computers can also be used for many other kinds of record keeping
c. computers may help them save time and produce more accurate records
d. both computers can also be used for many other kinds of record keeping and computers may help them save time and produce more accurate records
Question 6In-kind contributions ___.
a. should be included as part of the budget
b. should be included as part of the budget if the donor attaches a dollar value
c. should be included as income but would not be shown as an expense
d. should be included only if the dollar value exceeds 800
Question 7According to the United States General Accounting Office, start-up costs, in descending order of amount spent, are ____.
a. salaries, space, equipment, and planning and administration
b. salaries, teacher training, space, and equipment
c. space, equipment, planning and administration, and teacher training
d. space, salaries, equipment, and planning and administration
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