Which of the following best describes a non-profit organization?
Q: Accounting and Finance Discuss the different types of business organizations functioning in…
A: Different types of business organizations functioning in Pakistan. Sole proprietorship: A sole…
Q: 16. Cooperatives are primarily established to promote the quality of life of its members. True or…
A: Cooperatives: These are the organizations or enterprises owned, controlled and run by the…
Q: educational programs and has a significant fund-raising effort to help the foundation grow and…
A: The answer is stated below:
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: The above question has three sub-parts. Let's start with part(a). (a)The following information is…
Q: The director of a nonprofit ballet company in a medium-sized city in a certain country is planning…
A: The sum of money given by a individual, for any charitable purpose is called a donation. The total…
Q: A private not-for-profit entity has the following activities performed by volunteers who work at no…
A:
Q: Required information [The following information applies to the questions displayed below.] Fifth…
A: Overhead: It is the indirect cost incurred in addition to the direct costs for manufacture of…
Q: FAY (Financial Advice for You) was formed as a not-for-profit and non-governmental organization by…
A: Number of years amount will be saved=10 years Amount of withdrawal each year after retirement=Rs…
Q: The School of Accounting (SOA) at State University is planning its annual fundraising campaign for…
A: Given that, the SOA is planning a call-a-thon and will ask Beta Alpha Psi members to volunteer to…
Q: 17 Statement I: A company is accountable to the society since it makes use of community-owned…
A:
Q: Question Content Area 1. Prepare a direct labor budget, in hours, for the fundraising call-a-thon.…
A: The School of Accounting (SOA) at State University is planning its annual fundraising campaign for…
Q: Soley is a charity (an NGO) whose constitution requires that it raises funds for educational…
A: Inherent risk For the audit of Soley (an NGO) there are chances of inherent risk. Inherent risk, as…
Q: The participants of such recreational activities as hang gliding, soaring, hiking, rock collecting,…
A: Financial Information-:Financial data is data about the economic transactions of a person or…
Q: Which of the following statements is/are true? i. Information is the raw material for data…
A: Financial accounting records includes the financial data of a company for a required accounting…
Q: A private not-for-profit entity has the following activities performed by volunteers who work at no…
A:
Q: Assume that the club treasurer of one such organization is in charge of all financial matters,…
A: Internal control structure in an organization is referred to as the policies and procedures…
Q: Corporations with movements toward sustainability and social responsibility often All of the…
A: Meaning Sustainability - It is the company's future success factor. The company is performing well…
Q: Does the president of a firm have a right and obligation to use corporate profits for social…
A: APA means American Psychological Association Association.
Q: The Tech Student Government Association (SGA) has several campus projects it undertakes each year…
A: The question is based on calculating the profit contribution net of all the costs by selling…
Q: Asomdwe Support Centre is a small non-for profit charitable organization located in the northern…
A: a.) Control weaknesses Only Akosua a staff member have control over to check emails and prepare…
Q: Which one of the following activities of a company is NOT considered as corporate social…
A: Corporate social responsibility (CSR) is a form of multinational private sector self-regulation that…
Q: Soley is a charity (an NGO) whose constitution requires that it raises funds for educational…
A: Auditing refers to the art of inspecting and investigating financial accounts of a company. It is…
Q: You have been appointed as a financial consultant to Non profit organization club to assist them in…
A: Club is a non profit organization whose basic motive is to serve the members of the club and society…
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: Net profit is the amount that is computed by subtracting total cost (fixed added variable cost) from…
Q: You are hired to consult to a Not For Profit business that manufacturers Figment's. The Board of…
A: The three components are explained as follows:
Q: For each of the following organizations, determine its UBTI and any related UBIT. Connect, Inc., an…
A: Solution:- 1)Determine the Unrelated Business Income Tax (UBIT) for an organization that sells…
Q: Toyota organizes every year two blood donation camps in Nizwa and Muscat. This activity is an…
A: Corporate do some activity for the betterment of society which they are not legally bound to do…
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: Variable cost: - A variable cost is the cost which is changes according to the change in the volume…
Q: Jackson County Senior Services is a nonprofit organization devoted to providing essential services…
A: >Decision to eliminate or discontinue a product/department or process is a very imporatnat…
Q: Which of the following best describes a non-profit organization?
A: Not for profit organization: These are the organizations that provide services to the community…
Q: The cost of the bags, which must be ordered in batches of 100, are: Bags/ Participants Fixed Cost…
A: The formula used for computing marginal cost- Marginal Cost (MC) = Additional Total…
Q: The School of Accounting (SOA) at State University is planning its annual fundraising campaign for…
A: In order to determine how many work hours will be required to produce the product the business…
Q: Write a 700- to 1,050-word paper that analyzes the differences between generally accepted accounting…
A: please find the briefly explanation in below pages
Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…
A: Fees for the Symposium = $70 per person Rental cost for auditorium = $150 Registration processing…
Q: Assume that you are the financial manager for Healthy Body Hospital and you have been asked to…
A: Capital structure of Debt is 35% Capital structure of Equity is 65% Cost of Equity=13% Cost of…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Which of the following best describes a non-profit organization? One in which the leadership is governed by a board of directors O One in which the workforce is made up of volunteers O One that reinvests profit into the organization instead of distributing it to owners One that relies solely on private donations for the organization's financial needs do in 30 minutesWhich of the following best describes a non-profit organization? One in which the leadership is governed by a board of directors O One in which the workforce is made up of volunteers O One that reinvests profit into the organization instead of distributing it to owners One that relies solely on private donations for the organization's financial needs plz do fast as soon as possibleA nongovernmental not-for-profit animal shelter receives contributed services from the following individuals valued at their normal billing rate: Board members volunteer to prepare books for audit 4,500 Registered nurse volunteers as receptionist 3,000 Teacher provides volunteer dog walking 2,000 What amount should the shelter record as contribution revenue? A.) $7,500 B.) $4,500 C.) $6,500 D.) $9,500
- You were asked to make a presentation to a group of CSEC students on some areas related to non-profit making organisations. The specific areas are: i difference between accounts for non-profit and for-profit organisations 11. examples of non-profit organisations in your country 111. an explanation of the use of a subscription account iv. preparing a subscription account from given data For your presentation, research (i), (ii), (iii) and use the data below to complete (iv). A drama club charges its members an annual subscription of $40 per member. It accrues for subscriptions owing at the end of each year and also adjusts for subscriptions received in advance. i. ii. 111. On January 1, 2022, 36 members owed $720 for the 2021 year In December 2021, 8 members paid $160 for the year 2022 During the year 2022 the club received cash for subscriptions $$14,840 $720 $13840 $280 iv. At the end of December 31, 2022, 11 members had not paid their 2022 subscriptions. For 2021 For 2022 For 2023You are serving as the chair for your community's annual wellness campaign. A key event is the annual Walk 3k, Run 10k, Ride 20k event. The event is staged entirely by volunteers and the goal is to attract community-wide awareness of getting active as a key step to wellness. In other words, the goal is not to raise money, but to prompt awareness. As the chair, you set a financial goal to break even on the one and only cost of the event, a fitness bag with the community seal and the event motto, “I AM ON THE RIGHT TRACK!” The cost of the bags, which must be ordered in batches of 100, are: Bags/ Participants Fixed Cost Variable Cost Total Cost Marginal Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 [a] 200 $1,700 $1,200 $2,900 [b] 300 $1,700 $2,700 $4,400 [c] 400 $1,700 $5,200 $6,900 [d] 500 $1,700 $9,000 $10,700 [e] 600 $1,700 $15,000 $16,700 [f] 700 $1,700 $23,800 $25,500…Toyota organizes every year two blood donation camps in Nizwa and Muscat. This activity is an example of managements attitude towards what?. choose correct answer a.Competitors b.Customers c.Community d.Clients
- Assume you wrote up a proposal requesting $5000 for charity. The money would be used to buy food that volunteers (employees from the company) would distribute to the homeless on Saturday. The proposal is approved and you receive the money. However, the CEO comes to you and asks, "What will be the return on the investment?" How would you reply?Assume that the club treasurer of one such organization is in charge of all financial matters, including collecting and depositing member dues, paying vendor invoices, and preparing yearly reports. Do you think that assigning only one person to this job is a good idea? Why or why not?Write an essay about "The powers, functions, liabilities, and compensation of directors of cooperatives." (minimum of 200 words)
- The Seneca Children’s Fund (SCF) is a local charity that runs a summer camp for disadvantaged children. The fund’s board of directors has been working very hard over recent years to decrease the amount of overhead expenses, a major factor in how charities are rated by independent agencies. The following data show the percentage of the money SCF has raised that was spent on administrative and fund-raising expenses over the past seven years: Construct a time series plot. What type of pattern exists in the data? Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. Forecast the percentage of administrative expenses for year 8. If SCF can maintain its current trend in reducing administrative expenses, how long will it take SCF to achieve a level of 5% or less?Each of the following scenarios requires the use of accounting information to carry out one or more of the following managerial activities: (1) planning, (2) control and evaluation, (3) continuous improvement, or (4) decision making. a. MANAGER: At the last board meeting, we established an objective of earning an after-tax profit equal to 20 percent of sales. I need to know the revenue that we need to earn in order to meet this objective, given that we have 250,000 to spend on the promotional campaign. Once I have estimated sales in units, we then need to outline a promotional campaign that conforms to our budget and that will take us where we want to be. However, to compute the targeted sales revenue, I need to know the unit sales price, the unit variable cost, and the associated fixed production and support costs. I also need to know the tax rate. b. MANAGER: We have problems with our procurement process. Our accounts payable department is spending 80 percent of its time resolving discrepancies between the purchase order, receiving order, and suppliers invoice. Incorrect part numbers on the purchase orders, incorrect quantities ordered, and wrong parts sent (or the incorrect quantity) are just a few examples of sources of discrepancies. A complete redesign of the process has been suggested, which will allow us to eliminate virtually all of the errors and, at the same time, significantly reduce the number of clerks needed in purchasing, receiving, and accounts payable. This redesign promises to significantly reduce costs, decrease lead time, and increase customer satisfaction. c. MANAGER: This overhead cost report indicates that we have spent significantly more on inspection, purchasing, and production than was budgeted. An investigation has revealed that the source of the problem is faulty components from suppliers. A supplier evaluation has revealed that by selecting five suppliers with the best quality records (out of 15 currently used), the number of defective components will be dramatically reduced, thus producing significant overhead savings by reducing the demand for inspections, reordering, and rework. d. MANAGER: A large local firm has approached me and has offered to sell us one of the components used in our small enginesa component that we are currently producing internally. I need to know costs that we would avoid if this component is purchased so that I can assess the economic merits of this offer. e. MANAGER: Currently, our deluxe lawn mower is losing money. We need to increase profits. I would like to know how much our profits would be if we reduce our variable costs by 50 per mower while maintaining our current sales volume. Also, marketing claims that if we increase advertising expenditures by 1,000,000 and cut prices by 15 percent, we can increase the number of mowers sold by 25 percent. I would like to know which approach offers the most profit, or if a combination of the approaches may be best. f. MANAGER: We are implementing a major quality improvement program. We will be increasing the investment in prevention and detection activities with the expectation of driving down both internal and external failure costs. I expect to see trend reports for all categories of quality costs. I want to see if improving quality really does reduce costs and improve profitability. g. MANAGER: Our engineering design department has proposed a new design for our product. The new design promises to reduce post-purchase costs and, as a consequence, increase market share. I need to know the cost of producing this new design because it uses some new components and requires some different manufacturing processes. I would then like to have a projected income statement based on the new market share and new production costs. The planned selling price will be the same, or maybe even 10 percent lower. Projections based on the two price scenarios would be needed. h. MANAGER: My engineers have said that by redesigning our two main production processes, we can reduce move time by 90 percent and wait time by 85 percent. This would decrease cycle time and virtually eliminate the need to carry finished goods inventories. On-time deliveries would also increase dramatically. This would produce cost savings of nearly 20,000,000 per year. Market share and revenues would also increase. Required: 1. Describe each of the four managerial responsibilities. 2. Identify the managerial activity or activities applicable for each scenario, and indicate the role of accounting information in the activity.A private not-for-profit entity has the following activities performed by volunteers who work at no charge. In which case should no contribution be reported? Choose the correct.a. A carpenter builds a porch on the back of one building so that patients can sit outside.b. An accountant does the organization’s financial reporting.c. A local librarian comes each day to read to the patients.d. A computer expert repairs the organization’s computer.