The Following Are Key Terms in Chapter 13 That Relate

question 20

Short Answer

The following are key terms in Chapter 13 that relate to accounting for not-for-profit organizations:
A.Nonexchange transactions
B.Temporarily restricted net assets
C.Collections
D.Variance power
E.Exchange transactions
F.Board-designated net assets
G.Permanently restricted net assets
H.Promise to give
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.

Explain the concept of groupthink and its potential negative outcomes on decision-making.

Understand the processes behind obedience to authority.

Identify the effects of group dynamics on individual actions, including deindividuation and the bystander effect.

Recognize the importance of altruistic behavior and the conditions that promote it.

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Definitions:

Variable Expenses

Costs that change in proportion to business activity or production volume, such as materials costs, direct labor, and utilities for machinery.

Minimum Required Rate Of Return

The lowest acceptable return on an investment, used as a benchmark for evaluating potential investments.

Average Operating Assets

This refers to the average value of the assets used in operations over a certain period, which can indicate the efficiency of asset use in generating income.

Sales

The revenue generated from the selling of goods or services by a company or an enterprise to its customers.