The Flow Chart Shows the Order in Which Steps Should

question 51

Multiple Choice

The flow chart shows the order in which steps should be executed, and the diamond-shaped boxes indicate

• A)input
• B)algorithms
• C)tasks
• D)conditional tests

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Definitions:

Contribution Revenue

Income received by a nonprofit from donations, grants, or other voluntary payments which support its operations.

Prepaid Expense

Payments made in advance for goods or services, recognized as assets on the balance sheet until they are consumed or expensed.

Statement of Operations

A financial report that summarizes the revenue, expenses, and profits or losses of an organization over a specific period, typically a fiscal quarter or year.

Disbursement Basis

An accounting method where expenses are recorded when cash is paid out rather than when the expense is incurred.