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Private Not-For-Profit (NFP) Entities

question 58

Short Answer

Private Not-For-Profit (NFP) Entities.
Select from this list of terms to answer the following questions.
A. Fair value
B. Unrestricted net assets
C. GASB
D. FASB
E. Statement of Revenues, Expenditures, and Changes in Fund Balance
F. Lower of cost or market
G. Accrual method
H. Statement of Activities
I. General fund, restricted fund, endowment fund
J. Modified accrual method
K. Permanently restricted net assets
L. Temporarily restricted net assets
M. Endowment fund
N. Unrestricted, temporarily restricted, permanently restricted
O. Depreciation
P. Works of art and other historical treasures
Q. General fund
R. Cost
Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all.
"Classification of contributions restricted by purpose" describes which term listed above?

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Definitions:

Annuity

A guaranteed retirement income.

Property Insurance

Insurance coverage that provides protection against most risks to property, such as fire, theft, and some weather damage.

Valuable Artwork

Works of art that possess significant monetary, cultural, or historical value.

Legal Implications

The potential legal consequences or effects arising from certain actions or decisions.

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