Answered: State the various types of…

Business

Accounting

State the various types of contributions that a private not-for-profit entity can receive.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

State the various types of contributions that a private not-for-profit entity can receive.

Expert Solution

Step 1

Types of contributions that a private not for profit entity can receive are:

Cash contributions
In kind contributions
Restricted contributions
Temporary restricted contributions
Unrestricted contributions
Restricted contributions

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