Governmental and Nonprofit Accounting (11th Edition)
11th Edition
ISBN: 9780133799569
Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Publisher: PEARSON
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Chapter 1, Problem 7Q
To determine
Explain how the nature and purpose of user charges in G&NP (Governmental and Non-profit) organizations and profit- seeking organizations are differed.
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Chapter 1 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 1 - Discuss (a) the similarities in accounting for...Ch. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Contrast the terms expense and expenditure.Ch. 1 - It was noted in this chapter that most of the...Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10Q
Ch. 1 - Prob. 1.1ECh. 1 - Prob. 1.2ECh. 1 - Prob. 1.3ECh. 1 - In which of the following situations would the...Ch. 1 - Legally adopted budgets of governmental funds are...Ch. 1 - Which of the following statements is false? A fund...Ch. 1 - Prob. 1.7ECh. 1 - Prob. 1.8ECh. 1 - Prob. 1.9ECh. 1 - Prob. 1.10ECh. 1 - (Expenditures vs. Expenses) Family Services, a...Ch. 1 - (Statement of Revenues and ExpendituresWorksheet)...Ch. 1 - Prob. 2P
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- A not-for-profit organisation (for example, a university) will: Select one: O A. Be concerned with costs O B. Require non-quantifiable information O C. Try to plan future revenues O D. All of the above.arrow_forwardWhat do indirect costs cover and how are they typically calculated? What are unrestricted funds? Does grant funding typically consist of restricted or unrestricted funds? What is the difference between a grant and a contract?arrow_forwardIf we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization?arrow_forward
- Explain how performance might be measured in Non-profit making Organisations. 1b. Explain the objective of the value for money and his application to a Non-profit making Organisation.arrow_forwardDescribe how monies received by an organization functioning as an agent, trustee, or intermediary, rather than as a donor or donee, are accounted for. What may be the rationale for the discrepancies?arrow_forwardIf we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization? 1-2 paragrahsarrow_forward
- Which of the following would likely NOT avoid UBIT for an exempt organization? A. The activity is regularly carried on by the organization. B. The individuals who perform substantially all of the work are volunteers. C. The activity is carried on for the benefit of its members. D. The majority of the items sold have been donated to the organization.arrow_forwardWhat does this revenue recognition of the electric company saying? Kindly discuss or explain comprehensively.arrow_forwardWhy do we need accounting for non-profit organizations?arrow_forward
- What is the major difference between a for-profit and a not-for-profit organization?arrow_forwardThe FASB requires that not-for-profits show the relationship of functional expenses to natural classifications of expense in what format? Multiple Choice A separate statement of functional expenses. Any of these formats is acceptable. As part of the statement of activities. As a schedule in the notes to the financial statements.arrow_forwardDiscuss how characteristics of not-for-profit organizations differ from for-profit organizations.arrow_forward
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