Literary Studies > EXAM > CMCA PRACTICE EXAM 2024/2025 STUDY QUESTIONS WITH VERIFIED ANSWERS GUARANTEED PASS | RATED A+ (All)

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CMCA PRACTICE EXAM 2024/2025 STUDY QUESTIONS WITH VERIFIED ANSWERS GUARANTEED PASS | RATED A+

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what are the two essential financial documents the BOD should use to determine the amount of funds available for an unbudgeted expense? - Answer>>>balance sheet and statement of revenue and expense ... the best reasoning for recommendation the modified accrual basis of accounting method is that, compared to cash accounting, it: - Answer>>>more accurately reflects the associations financial condition when an association contracts all of its employees, it is a best business practice to: - Answer>>>negotiate contracts within the bidding process what is the best way to communicate managements expectation for an employee to complete regular and special tasks during a certain time period? - Answer>>>establishing performance goals managers must be familiar with federal income tax requirements and options because: - Answer>>>under federal tax code, all organizations are taxable unless specifically exempted the interim financial report should, at a minimum, include: - Answer>>>statement of income and expenses, account balance, and a balance sheet the manager is not usually responsible for preparing the: - Answer>>>tax returns what is the purpose of a management letter? - Answer>>>to note the problem areas in an associations financial operations and recommed modifications and improvements a significant decline in the amount of investments is mist likely the result of: - Answer>>>expenditures out of reserve funds if you want to know the difference between the actual and the budget figures for a revenue account, to which documents should you refer? - Answer>>>statement of income and expenses and budget the primary management control tool for identifying whether the association needs to maintain a particular property element is: - Answer>>>maintenance responsibility chart in an initial letter you send to an owner who has violated one of the associations adopted rules, what is the best way to get the owner in compliance? - Answer>>>Offer to meet to hear the owner's viewpoint If you have a proprietary lease in a development, what is your best interest in the property? - Answer>>>stock membership [Show More]

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