A Nurse Is Employed by the U

question 20

Multiple Choice

A nurse is employed by the U.S. Department of Health and Human Services (USDHHS) . Which of the following branches of government is the nurse working for?

• A) Judicial
• B) Executive
• C) Legislative
• D) Health

Calculate fund balances for not-for-profit organizations based on different types of contributions and expenditures.

Identify and apply the correct accounting treatment for donations, including restricted, unrestricted, and endowment contributions.

Distinguish between the methods of reporting for not-for-profit organizations and the implications of each method.

Distinguish between the types of funds within an NFPO and the reporting requirements for each.

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Definitions:

Drawing

The account used to record amounts withdrawn by an owner of a proprietorship.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, clearing out revenues and expenses for the next period.

Wages Expense

The total cost incurred by a company for paying its employees, often reflected as an operating expense on the income statement.

Rent Expense

The cost incurred by a business to utilize property or equipment for operations, which is recorded as an expense on the income statement.