Multiple Choice
The three classes of net assets reported for a private not-for-profit organization include all of the following except:
A) Unrestricted net assets.
B) Temporarily restricted net assets.
C) Capital restricted net assets.
D) Permanently restricted net assets.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Country clubs and labor unions are not
Q3: Private not-for-profit organizations record depreciation expense.
Q4: Private not-for-profits use record encumbrances to maintain
Q5: All not-for-profits must follow FASB standards so
Q6: The AICPA Not-for-Profit Organizations Not-for-Profit Guide) applies
Q8: Which of the following is part of
Q9: All private not-for-profit reports all expenses in
Q10: A Statement of Functional Expenses is required
Q11: How does a for-profit organization record contributions
Q12: What financial ratio is most commonly used