Exam 26: Not-For-Profit Organizations: Introduction and Private Npos

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_____ For a public C&U engaged in both governmental activities, and business-type activities, which of the following financial statements is required?

(Multiple Choice)

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Question 21

Under FAS 116, contributions with future payment dates usually would be classified as increasing temporarily restricted net assets.

(True/False)

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Question 22

_____ Under FAS 116, which of the following donated services would not be recognized as contributions in the statement of activities?

(Multiple Choice)

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Question 23

_____ For a public C&U engaged in business-type activities, which of the following financial statements is not used?

(Multiple Choice)

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Question 24

Under FAS 117, the "layered" format is allowed in the statement of activities.

(True/False)

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Question 25

In general, revenues and expenses are reported at their ___________ amounts.

(Short Answer)

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Question 26

_____ Under FAS 116, which of the following contributions are recognized in the statement of activities?

(Multiple Choice)

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Question 27

_____ For a public C&U engaged in business-type activities, which of the following financial statements is required?

(Multiple Choice)

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Question 28

Regarding public C&U reporting, all public C&Us must present a management discussion and analysis (MDA) in their annual report.

(True/False)

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Question 29

Public NPOs are required to follow all private-sector standards issued on or before 11/30/89.

(True/False)

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Question 30

Under FAS 117, all expenses are shown in the ___________________ category in the statement of activities.

(Short Answer)

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Question 31

If a public HCO is a "component unit" of a primary governmental unit, its financial statements must be shown in separate columns added to the general-purpose financial statements prepared by the governmental unit.

(True/False)

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Question 32

Endowment investment gains on specific donated assets that were received this year and must be held for 50 years are reported as increases to PR net assets-if investment income can be spent only in a certain manner.

(True/False)

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(43)

Question 33

_____ Under FAS 116, which of the following contributed services are not recognized in the financial statements?

(Multiple Choice)

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(41)

Question 34

The AICPA's 1996 HCO audit guide does not apply to nursing homes.

(True/False)

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Question 35

Under FAS 116, contributions received are measured at the fair value.

(True/False)

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Question 36

_____ In a public C&U's statement of cash flows, cash paid to acquire capital assets is reported in which category?

(Multiple Choice)

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Question 37

The measurement focus for public HCOs is on the flow of economic resources.

(True/False)

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Question 38

_____ Under FAS 117, which of the following statements is false concerning the statement of financial position?

(Multiple Choice)

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Question 39

_____ Under FAS 116, which of the following is a condition that, if satisfied, requires the recognition of contributed collection items?

(Multiple Choice)

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Question 40

Showing 21 - 40 of 218

Exam 26: Not-For-Profit Organizations: Introduction and Private Npos

_____ For a public C&U engaged in both governmental activities, and business-type activities, which of the following financial statements is required?

Under FAS 116, contributions with future payment dates usually would be classified as increasing temporarily restricted net assets.

_____ Under FAS 116, which of the following donated services would not be recognized as contributions in the statement of activities?

_____ For a public C&U engaged in business-type activities, which of the following financial statements is not used?

Under FAS 117, the "layered" format is allowed in the statement of activities.

In general, revenues and expenses are reported at their ___________ amounts.

_____ Under FAS 116, which of the following contributions are recognized in the statement of activities?

_____ For a public C&U engaged in business-type activities, which of the following financial statements is required?

Regarding public C&U reporting, all public C&Us must present a management discussion and analysis (MDA) in their annual report.

Public NPOs are required to follow all private-sector standards issued on or before 11/30/89.

Under FAS 117, all expenses are shown in the ___________________ category in the statement of activities.

If a public HCO is a "component unit" of a primary governmental unit, its financial statements must be shown in separate columns added to the general-purpose financial statements prepared by the governmental unit.

Endowment investment gains on specific donated assets that were received this year and must be held for 50 years are reported as increases to PR net assets-if investment income can be spent only in a certain manner.

_____ Under FAS 116, which of the following contributed services are not recognized in the financial statements?

The AICPA's 1996 HCO audit guide does not apply to nursing homes.

Under FAS 116, contributions received are measured at the fair value.

_____ In a public C&U's statement of cash flows, cash paid to acquire capital assets is reported in which category?

The measurement focus for public HCOs is on the flow of economic resources.

_____ Under FAS 117, which of the following statements is false concerning the statement of financial position?

_____ Under FAS 116, which of the following is a condition that, if satisfied, requires the recognition of contributed collection items?

Wholly Owned Subsidiaries: at Date of Creation

Wholly Owned Subsidiaries: Postcreation Periods

Partially Owned Created Subsidiaries & Variable Interest Entities

Introduction to Business Combinations

The Purchase Method: at Date of Acquisition-100 Ownership

The Purchase Method: Postacquisition Periods and Partial Ownerships

New Basis of Accounting

Introduction to Intercompany Transactions

Intercompany Inventory Transfers

Intercompany Fixed Asset Transfers & Bond Holdings

Changes in a Parents Ownership Interest, Statement of Cash Flows, & Earnings Per Share

Reporting Segment and Related Information

International Accounting Standards & Translating Foreign Currency Transactions

Using Derivatives to Manage Foreign Currency Exposures

Translating Foreign Currency Statements: The Current Rate Method

Translating Foreign Currency Statements: The Temporal Method and the Functional Currency Concept

Interim Period Reporting

Securities and Exchange Commission Reporting

Bankruptcy Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Changes in Ownership

Partnerships: Liquidations

Estates and Trusts

Governmental Accounting: Basic Principles and the General Fund

Governmental Accounting: The Special-Purpose Funds and Special General Ledger

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