The Starting Point When Budgeting for a Not-For-Profit Organization Is

question 169

True/False

The starting point when budgeting for a not-for-profit organization is generally to budget expenditures first.

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Definitions:

Full Payment

The complete settlement of an amount due, leaving no balance.

Assignment

The transfer of a debtor’s property to an Official Receiver under a voluntary assignment in bankruptcy.

Amount Owing

The total sum of money that is due or payable to another party.

Not to Commit Waste

A principle obligating a party to avoid causing damage or destruction to property.