The Dollars And Sense Of Sheltering: A Tool For Financially Evaluating Your Shelter’s Programs
-
A cash flow statement shows all the following except:
-
When you need to borrow money.
-
How much money you need to borrow.
-
When you can increase spending without additional borrowing.
-
When you can repay loans.
-
All of the above are shown by using cash flow.
-
Sheltering isn't just about good intentions. It's about planning and developing programs that have a good chance of keeping animals healthy and happy, as well as maximizing adoptions and lifesaving. To make that happen, shelter directors and managers need to have a solid understanding of the practical and financial aspects of their programs. They also need to be able to analyze their results to determine if a program is achieving its goals, and what its real costs are.
Dr. Nicole Olynk Widmar has developed a shelter financial management tool that can be used to analyze financial outcomes for shelter programs under different management strategies.
Quiz Preview
- 2.
What are the two “types” or general classifications of management that shelter managers need to be participating in? (Select two answers.)
-
Strategic management
-
Cash management
-
Tactical management
-
Employee management
Correct Answer(s)
A. Strategic management
A. Tactical management -
- 3.
Commonly overlooked ways to decrease shelter costs include:
-
Bulk purchasing of animal-related supplies (i.e., food, vaccines).
-
Reducing carrying costs through careful inventory management and planning.
-
Borrowing money to purchase supplies ahead.
-
Utilizing incentive-based programs (i.e., cash back credit cards).
-
A, B and D.
Correct Answer
A. A, B and D. -
- 4.
We hope you have enjoyed the presentation. If you receive a passing score, a Certificate of Attendance in your name will be awarded at the end of this quiz. Please let us know if you have viewed the entire presentation.
-
I certify that I have viewed the entire presentation.
-
I did not view the entire presentation.
Correct Answer
A. I certify that I have viewed the entire presentation. -
- 5.
According to the shutdown rule, a shelter will shut down when revenue received from goods and services provided cannot cover the variable costs of operating.
-
True
-
False
Correct Answer
A. True -
- 6.
Which of the following is an example of a variable expense (or cost)?
-
Depreciation
-
Property taxes
-
Hired labor
-
Insurance
Correct Answer
A. Hired labor -
- 7.
Which term is best described by the following: Costs which the shelter incurs that do not vary with the number of animals housed/saved (generally referred to as the "level of production" in other firms).
-
Variable costs
-
Cost of production
-
Enterprise budget
-
Fixed costs
Correct Answer
A. Fixed costs -
- 8.
What are the three financial statements that all shelter managers should be aware of? (Select three answers.)
-
Balance sheet
-
Income statement
-
Partial budget
-
Cash flow statement
Correct Answer(s)
A. Balance sheet
A. Income statement
A. Cash flow statement -
- 9.
It is always better for the financial performance of the shelter to increase total adoption numbers of dogs and puppies.
-
True
-
False
Correct Answer
A. False -
- 10.
Which term is best described by the following: Shows the projected costs and returns associated with some change in the shelter.
-
Cost of production
-
Variable costs
-
Partial budget
-
Whole farm budget
Correct Answer
A. Partial budget -
- 11.
It is possible to improve the net income of the shelter by:
-
Increasing revenues and decreasing costs.
-
Decreasing costs by $A and decreasing revenues $B, where $A>$B.
-
Decreasing revenues by $C and decreasing costs by $D, where $C
-
Increasing revenues by $X and increasing costs by $Y, where $X>$Y.
-
All of the above.
Correct Answer
A. All of the above. -
Quiz Review Timeline (Updated): +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Jun 23, 2020Quiz Edited by
ProProfs Editorial Team -
Aug 12, 2013Quiz Created by
Back to top