Indicate Your Choice by Entering the Letter Corresponding to the Correct

question 72

Multiple Choice

Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all.
-"Financial statement of a private NFP entity" describes which term listed above?

• A)Fair value
• B)Net assets without donor restrictions
• C)GASB
• D)FASB
• E)Statement of Revenues,Expenditures,and Changes in Fund Balance
• F)Lower of cost or market
• G)Accrual method
• H)Statement of Activities
• I)General fund,restricted fund,endowment fund
• J)Modified accrual method
• K)Net assets with donor restrictions
• L)Endowment fund
• M)Unrestricted,temporarily restricted,permanently restricted
• N)Depreciation
• O)Works of art and other historical treasures
• P)General fund
• Q)Cost

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Definitions:

Non-compliance

Failure or refusal to act in accordance with laws, regulations, or prescribed norms and standards.

Reciprocity

A social norm where actions or services are returned or repaid, emphasizing mutual exchange and cooperation.

Reciprocal Alliances

Collaborative agreements between businesses or entities where each party offers mutual benefits and support, fostering shared success.

Effective Networkers

Individuals who are proficient in establishing and maintaining professional connections that are beneficial for career and business development.