NJ CALA EXAM (ACTUAL 2025) QUESTIONS &
VERIFIED ANSWERS
Cost Management - <<<Answers>>.an ongoing, active
program of management costs in a facility
Credit - <<<Answers>>.an entry on the right side of an
account which increases liability, owner's equity, and revenue
accounts
current liability - <<<Answers>>.debts generally due within
one year that usually requires use of current assets
Debit - <<<Answers>>.an entry on the left side of an account
that increases assets and expense accounts and decreases
liability, owner's equity, and revenue accounts
deficit - <<<Answers>>.a debit balance in retained earning
accounts
long-term liability - <<<Answers>>.an obligation not due for
more than one year
marginal return - <<<Answers>>.the point at which income
equals expenses, the break-even point
, NJ CALA EXAM (ACTUAL 2025) QUESTIONS &
VERIFIED ANSWERS
Master Budget - <<<Answers>>.one that includes cash
budget, capital budget, liquidity ratio, and pro-forma financial
statement
net profit - <<<Answers>>.income over expenses before taxes
and dividends are paid
net worth - <<<Answers>>.assets less liabilities
note - <<<Answers>>.an unconditional written promise to
pay a definite swum of money at a certain date
operating budget - <<<Answers>>.one that includes
anticipated income by source and anticipated expenditures by
category
partnership - <<<Answers>>.a business owned and usually
operated by two or more persons associated as partners
par value - <<<Answers>>.the value amount printed on a
stock certificate, the amount per share at which par value
stock is recorded in accounts
, NJ CALA EXAM (ACTUAL 2025) QUESTIONS &
VERIFIED ANSWERS
petty cash fund - <<<Answers>>.a fund maintained to provide
quickly available funds to make small purchases that may be
urgently needed
Posting - <<<Answers>>.transfer of a journal entry to the
ledger
Profitability - <<<Answers>>.the ability of a business to
generate revenues to pay all expenses and realize a profit
14 days - <<<Answers>>.health care assessments shall be
conducted by a RN within how many days of admission
RN - <<<Answers>>.initial nursing assessments must be
completed by who
physician or nurse practitioner/ clinical nurse specialist -
<<<Answers>>.An annual physical examination must be
completed by
60 days - <<<Answers>>.An initial nursing assessment is not
required if a physician within ___ days prior to admission that
the resident has no health care service needs and is
appropriate for assisted living
VERIFIED ANSWERS
Cost Management - <<<Answers>>.an ongoing, active
program of management costs in a facility
Credit - <<<Answers>>.an entry on the right side of an
account which increases liability, owner's equity, and revenue
accounts
current liability - <<<Answers>>.debts generally due within
one year that usually requires use of current assets
Debit - <<<Answers>>.an entry on the left side of an account
that increases assets and expense accounts and decreases
liability, owner's equity, and revenue accounts
deficit - <<<Answers>>.a debit balance in retained earning
accounts
long-term liability - <<<Answers>>.an obligation not due for
more than one year
marginal return - <<<Answers>>.the point at which income
equals expenses, the break-even point
, NJ CALA EXAM (ACTUAL 2025) QUESTIONS &
VERIFIED ANSWERS
Master Budget - <<<Answers>>.one that includes cash
budget, capital budget, liquidity ratio, and pro-forma financial
statement
net profit - <<<Answers>>.income over expenses before taxes
and dividends are paid
net worth - <<<Answers>>.assets less liabilities
note - <<<Answers>>.an unconditional written promise to
pay a definite swum of money at a certain date
operating budget - <<<Answers>>.one that includes
anticipated income by source and anticipated expenditures by
category
partnership - <<<Answers>>.a business owned and usually
operated by two or more persons associated as partners
par value - <<<Answers>>.the value amount printed on a
stock certificate, the amount per share at which par value
stock is recorded in accounts
, NJ CALA EXAM (ACTUAL 2025) QUESTIONS &
VERIFIED ANSWERS
petty cash fund - <<<Answers>>.a fund maintained to provide
quickly available funds to make small purchases that may be
urgently needed
Posting - <<<Answers>>.transfer of a journal entry to the
ledger
Profitability - <<<Answers>>.the ability of a business to
generate revenues to pay all expenses and realize a profit
14 days - <<<Answers>>.health care assessments shall be
conducted by a RN within how many days of admission
RN - <<<Answers>>.initial nursing assessments must be
completed by who
physician or nurse practitioner/ clinical nurse specialist -
<<<Answers>>.An annual physical examination must be
completed by
60 days - <<<Answers>>.An initial nursing assessment is not
required if a physician within ___ days prior to admission that
the resident has no health care service needs and is
appropriate for assisted living
