Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 1, Problem 19.9EP
To determine
Identify the option which is not included in the basic financial statement of not-for-profit organization.
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Students have asked these similar questions
The three major items on a balance sheet of a non-profit include all but which of the following___
Group of answer choices
Net income
Liabilities
Assets
Fund equity
Which of the following statements is prepared by all not-for-profit organizations?
O Statement of changes in net position.
O Both Statement of financial position and Staternent of changes in net position.
O Statement of financial position.
O Statement of revenues, expenses, and changes in net position.
In its simplest form, the balance sheet of a non-profit reveals the following relationship____
Group of answer choices
Total assets - Liabilities = Shareholders' equity
Total assets + shareholders' equity = Liabilities
Total assets + Liabilities = Shareholders' equity
Total assets = Liabilities + Fund equity
Chapter 1 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Explain the meaning and significance of...Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - What are the three sections of a comprehensive...Ch. 1 - Prob. 9QCh. 1 - Prob. 10Q
Ch. 1 - Prob. 11CCh. 1 - Prob. 12CCh. 1 - Prob. 13CCh. 1 - Prob. 14CCh. 1 - Prob. 16CCh. 1 - Prob. 18EPCh. 1 - Prob. 19.1EPCh. 1 - Prob. 19.2EPCh. 1 - Prob. 19.3EPCh. 1 - Prob. 19.4EPCh. 1 - Prob. 19.5EPCh. 1 - Prob. 19.6EPCh. 1 - Prob. 19.7EPCh. 1 - Prob. 19.8EPCh. 1 - Prob. 19.9EPCh. 1 - The primary reason that not-for-profit (NFP)...Ch. 1 - Matching. (LO1-1, LO1-2, LO1-4, LO1-5) For each...Ch. 1 - Prob. 21EP
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Similar questions
- Please answer with reason why the option is correct and why remaining options are incorrect Which of the following statements is prepared by all not-for-profit organizations? Statement of financial position. a. b. C. d. Statement of functional expenses. Statement of revenues, expenses, and changes in net position. Both A and B.arrow_forwardAnswer two questions please 1-What are the objectives of financial reporting of not-for-profit organizations? 2-Which fund category uses modified accrual basis of accounting? What are the recognition rules of revenues and expenditures under modified accrual basis of accounting?arrow_forwardIn a statement of cash flows of a not-for-profit healthcare entity, what are the statement’s main sections?arrow_forward
- What are the objectives of financial reporting of not-for-profit organizations?arrow_forwardIn reporting the functional expenses of a not-for-profit entity, what are the two general types of expenses?arrow_forwardWhat is the difference between a balance sheet of a non profit organization and a for - profit business ?arrow_forward
- How should a nongovernmental, not-for-profit organization report contributions without donor‘s restriction in its statement of cash flows A.) Operating activity inflow. B.) Investing activity inflow. C.) Financing activity inflow. D.) As a noncash transaction.arrow_forwardWhat are the financial reporting goals of not-for-profit organizations?arrow_forwardWhat is the major source revenue in non profit organization? Select one: a. Membership fees b. Sales goods c. Goods service d. All the other pointsarrow_forward
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