ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
expand_more
expand_more
format_list_bulleted
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.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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.
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
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.
Chapter 1 Solutions
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
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
Knowledge Booster
Similar questions
- In a statement of cash flows of a not-for-profit healthcare entity, what are the statement’s main sections?arrow_forwardIn 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 equityarrow_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_forward
- What are the objectives of financial reporting of not-for-profit organizations?arrow_forwardWhat is the difference between a balance sheet of a non profit organization and a for - profit business ?arrow_forwardIn reporting the functional expenses of a not-for-profit entity, what are the two general types of expenses?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_forwardUnreserved Fund Balance in Governmental entities is equal to which of the following in commercial entities: a. Bond sinking Fund b. Retained earnings c. Capital Stock d. Unearned revenuearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College