The Three Classes of Net Assets Reported for a Private

question 7

Multiple Choice

The three classes of net assets reported for a private not-for-profit organization include all of the following except:

• A) Unrestricted net assets.
• B) Temporarily restricted net assets.
• C) Capital restricted net assets.
• D) Permanently restricted net assets.

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Definitions:

Shortage/Surplus

A market condition where the quantity demanded exceeds the quantity supplied (shortage) or where the quantity supplied exceeds the quantity demanded (surplus).

Price Floor

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, often above the equilibrium price.

Shortage/Surplus

Economic conditions where the quantity of a good demanded exceeds its supply (shortage) or where supply exceeds demand (surplus).

Chain Of Command

The linking of all employees with successively higher levels of authority.