Which of the Following Is True for a Nongovernment, Not-For-Profit

question 23

Multiple Choice

Which of the following is true for a nongovernment, not-for-profit organization?

• A) Revenues and expenses may be reported in changes in net assets without donor restrictions.
• B) Revenues and expenses may be reported in changes in net assets with donor restrictions.
• C) Expenses and net assets released from restrictions may be reported in changes in net assets with donor restrictions.
• D) Expenses may be reported in changes in net assets without donor restrictions or in changes in net assets with donor restrictions.

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Definitions:

Forecasts

Predictions or estimates of future events, especially concerning weather or economic trends.

Renewable Resource

A natural resource that can replenish itself naturally over time, such as solar energy, wind, and forestry.

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the market through individuals' pursuit of their own interests.

Consumption

The act of using goods and services to satisfy needs and desires.