On a Statement of Activities for a Not-For-Profit Entity, What

question 21

Multiple Choice

On a Statement of Activities for a not-for-profit entity, what are the broad categories of supporting service costs required to be reported?

• A) Fundraising expenses and operating expenses.
• B) Program services expenses and administrative services expenses.
• C) Fundraising expenses and supporting services expenses.
• D) Fundraising expenses and administrative expenses.
• E) Operating expenses and administrative expenses.

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Definitions:

Cash Over

A situation where the physical cash on hand exceeds the expected amount based on accounting records.

Cash Short

A situation that occurs when the actual cash received is less than the amount expected or recorded, often reflecting errors or theft.

Cash Over

A situation where the amount of cash on hand is more than the expected amount, indicating a discrepancy in transactions.

Auxiliary Petty Cash Record

A detailed documentation or log used to track petty cash expenses and replenishments separate from the main cash records.