NGOs Must Be Recognized by the United Nations in Order

question 20

True/False

NGOs must be recognized by the United Nations in order to do humanitarian work in developing countries.

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Definitions:

Accumulated Depreciation

Full amount of depreciation expenses that have been attributed to a fixed asset since it was deployed.

Financial Statements

Reports that summarize the financial performance and health of a business including balance sheet, income statement, and cash flow statement.

Balance Sheet

A summary record that outlines a firm's assets, liabilities, and equity held by shareholders at a specific timeframe, showing its financial status.

Statement of Owner's Equity

A financial statement that outlines the changes in the equity of a company over a specific period, including contributions, withdrawals, and the net income or loss.