Lesson 6 Quiz

At March 31, which family account is the greatest collection risk? *

Taylor Family

Jordan Family

Reyes Family

Wells Family

The Taylor Family shows about $2,800 open at every snapshot but never Over 90 days. What is the best response? *

Write off the balance

Withdraw the child immediately

A conversation or payment plan; the family is late but paying

Ignore it

At March 31, CCS child TOD-01 has $2,045 Over 90 days while no other CCS child has a balance older than 60 days. What is the most likely cause? *

The family stopped paying

An authorization or paperwork problem

The child withdrew

The State rate changed

The CCS receivable is $103,233 at March 31, with $60,696 in the 31–60 day bucket. What happened? *

Many families stopped paying

The State paid the January–March invoices late

EXCELS was cancelled

Enrollment doubled

The AP aging at March 31 shows –$738.43 for Chesapeake Food Distributors. What does a negative vendor balance mean? *

The vendor owes a late fee

The center paid more than it owed, likely a duplicate payment

The bill is not due yet

The bill was disputed

The family aging total at March 31 is $10,812.50. Which balance sheet line should it match? *

Cash – Operating Checking

Accounts Receivable – Families

Accounts Receivable – CCS

Deferred Revenue