Treasurer Certification - Canada | Attempts: 87

2.

In preparing monthly financial statements, you should

Work closely with the president and finance committee
Prepare a cash summary
Assign account numbers to each line item
All of the above

Correct Answer

A. All of the above

Explanation

In preparing monthly financial statements, it is important to work closely with the president and finance committee to ensure accuracy and alignment with the organization's goals. Additionally, preparing a cash summary helps to provide a clear overview of the organization's cash flow. Assigning account numbers to each line item is crucial for proper categorization and organization of financial data. Therefore, all of the above options are necessary steps to effectively prepare monthly financial statements.

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3.

International dues per member in Canadian funds

$18.00 a quarter
$18.00 a year
$9.00 a quarter
$18.00 semi annually

Correct Answer

A. $18.00 a quarter

Explanation

The correct answer is $18.00 a quarter because it states that the international dues per member are $18.00 and they are paid on a quarterly basis. This means that every three months, a member is required to pay $18.00 in Canadian funds as their international dues.

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4.

What resource should provide you with accurate club membership records for club billing purposes?

Civitan International Membership Department
Past club records
Your club Secretary
Ouija board

Correct Answer

A. Your club Secretary

Explanation

The club secretary should provide accurate club membership records for club billing purposes. As the secretary is responsible for maintaining and updating the club's membership list, they would have the most up-to-date and accurate information regarding the club's members. They would be able to provide the necessary records needed for billing purposes, ensuring accuracy and efficiency in the process.

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5.

Each new member must pay an initiation fee of

$15.00 CDN
$6.00 CDN
$6.25 CDN
$1.25 CDN

Correct Answer

A. $15.00 CDN

Explanation

The initiation fee for each new member is $15.00 CDN.

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6.

Which tax form must all Incorporated Canadian clubs file each year?

T1
HST Report
T2 short
None of the above

Correct Answer

A. T2 short

Explanation

All incorporated Canadian clubs must file the T2 short tax form each year. The T2 short form is specifically designed for small corporations, including non-profit organizations like clubs. This form is used to report the club's income, deductions, and taxes owed to the Canada Revenue Agency (CRA). By filing the T2 short form, the club ensures compliance with Canadian tax laws and fulfills its obligations as an incorporated entity.

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7.

International dues are billed to the club

Semi annually
Monthly
Quarterly
Each month through a random drawing

Correct Answer

A. Quarterly

Explanation

International dues are billed to the club on a quarterly basis. This means that the dues are charged every three months. This schedule allows for a regular and consistent payment of the dues, and it also gives the club enough time to budget and prepare for the payment.

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8.

The International Quarterly Statements are sent to the club billing contact and

Club secretary
Club president
Club treasurer
Club president elect
Random strangers

Correct Answer

A. Club treasurer

Explanation

The International Quarterly Statements are sent to the club treasurer because they are responsible for managing the club's finances and keeping track of financial transactions. The statements provide important information about the club's financial status, including income, expenses, and any outstanding dues or fees. By sending the statements to the club treasurer, the club ensures that the person in charge of financial matters has access to the necessary information to make informed decisions and maintain accurate financial records.

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9.

When dealing with a member who is delinquent in paying their dues, as treasurer you should

Contact the member immediately and demand payment within 30 days
Publicize the delinquencies in the club newsletter
Pay it yourself
Handle the situation with careful consideration and arrange a mutually satisfactory plan for payment

Correct Answer

A. Handle the situation with careful consideration and arrange a mutually satisfactory plan for payment

Explanation

When dealing with a member who is delinquent in paying their dues, it is important to handle the situation with careful consideration and arrange a mutually satisfactory plan for payment. Contacting the member immediately and demanding payment within 30 days may not take into account any extenuating circumstances the member may be facing. Publicizing the delinquencies in the club newsletter can be seen as unprofessional and may harm the reputation of the member. Paying it yourself is not the treasurer's responsibility and may set a precedent for others to not pay their dues. Therefore, working out a mutually agreed plan for payment is the most fair and reasonable approach.

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10.

In preparation of the club’s budget, if the budget requests of each committee exceed the amount of money available

Call a special meeting to brainstorm about a new fundraiser to raise additional funds
Meet with each committee chairperson to discuss ways to reduce the budget request
Make the decision on your own
Ignore it

Correct Answer

A. Meet with each committee chairperson to discuss ways to reduce the budget request

Explanation

When the budget requests of each committee exceed the available funds, it is important to find a solution to this problem. Meeting with each committee chairperson to discuss ways to reduce the budget request is the most appropriate action to take. This allows for open communication and collaboration to find alternative solutions or make necessary adjustments to the requests. It ensures that everyone's concerns and needs are taken into account and helps in finding a balanced budget that aligns with the available resources.

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11.

After the board approves the budget

Review the budget as the next club meeting program
Call each committee member to inform them of the results
Publish it to your newsletter
Do nothing

Correct Answer

A. Publish it to your newsletter

Explanation

Publishing the approved budget to the newsletter is the most effective way to inform all club members about the budget. By doing so, all members will have access to the information and can stay informed about the financial plans and decisions of the club. This promotes transparency and accountability within the club and ensures that all members are aware of how the budget will be allocated. It also provides an opportunity for members to provide feedback or ask questions about the budget, fostering open communication within the club.

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12.

When a member is transferred from one Civitan club to another, the fee in Canadian funds is?

$5
$1.50
A Loonie
$0

Correct Answer

A. $0

Explanation

When a member is transferred from one Civitan club to another, there is no fee in Canadian funds. This means that the transfer is free of charge and the member does not need to pay any amount in Canadian funds for the transfer.

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13.

You should always enclose _________ when paying bills to Civitan International

Your name and club office
A copy of the invoice
Your district governor’s name
Your club roster

Correct Answer

A. A copy of the invoice

Explanation

When paying bills to Civitan International, it is important to enclose a copy of the invoice. This is necessary to ensure that the payment is correctly allocated to the specific bill that is being paid. Without a copy of the invoice, there may be confusion or delays in processing the payment. Including a copy of the invoice helps to provide clear documentation and streamline the payment process.

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14.

Civitan International offers half international dues on the following type of membership

Persons with developmental disabilities
Students
Students and persons with developmental disabilities
There is no half dues structure offer through Civitan International

Correct Answer

A. Students and persons with developmental disabilities

Explanation

Civitan International offers half international dues for both students and persons with developmental disabilities. This means that these two groups of individuals are eligible for a discounted membership fee, while other types of membership do not have this half dues structure.

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Treasurer Certification - Canada

The following is not a job responsibility of the Treasurer

In preparing monthly financial statements, you should

International dues per member in Canadian funds

What resource should provide you with accurate club membership records for club billing purposes?

Each new member must pay an initiation fee of

Which tax form must all Incorporated Canadian clubs file each year?

International dues are billed to the club

The International Quarterly Statements are sent to the club billing contact and

When dealing with a member who is delinquent in paying their dues, as treasurer you should

In preparation of the club’s budget, if the budget requests of each committee exceed the amount of money available

After the board approves the budget

When a member is transferred from one Civitan club to another, the fee in Canadian funds is?

You should always enclose _________ when paying bills to Civitan International

Civitan International offers half international dues on the following type of membership