The Term "Child Development Center" Includes

question 2

Multiple Choice

The term "child development center" includes:

• A)full-day care centers
• B)part-day care centers
• C)preschools
• D)all of the above

Describe the process and accounting treatment for change funds and their differences from petty cash.

Understand how to establish and adjust a petty cash fund.

Learn how to reconcile the petty cash fund by accounting for cash shortages and overages.

Ability to prepare journal entries for petty cash transactions including fund establishment, replenishment, and adjustment.

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Definitions:

Protective Function

A role often played by governmental bodies to ensure the safety and security of its citizens, through measures like law enforcement and military defense.

Legal Enforcement

The process of ensuring compliance with laws, regulations, and rules through sanctions or penalties.

Contracts

Legally binding agreements between two or more parties that establish obligations, rights, and responsibilities.

Derived Benefits

Advantages obtained indirectly from an activity or service, such as economic benefits from environmental conservation.