What Is the Basis of Accounting Used in Accounting for Not-For-Profit

question 39

Multiple Choice

What is the basis of accounting used in accounting for not-for-profit universities?

• A)​fund accounting
• B)​accrual basis
• C)​modified accrual basis
• D)​cash basis

Comprehend the role of substitute goods in market dynamics.

Recognize the effect of cost changes on market supply.

Identify the consequences of policy and regulation changes on markets.

Predict market outcomes based on simultaneous shifts in supply and demand.

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Definitions:

Human Resources

The abilities, skills, and health of human beings that contribute to the production of both current and future output. Investment in training and education can increase the supply of human resources.

Physical Resources

Tangible assets used in the production or delivery of goods and services, such as machinery, buildings, and raw materials.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.