Indicate Your Choice by Entering the Letter Corresponding to the Correct

question 2

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.
-"Classification of investment income from endowment investments if there are no donor restrictions as to income" 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:

Financial Accounting

The practice of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

Managerial Accounting

The practice of analyzing, presenting, and interpreting financial data to help managers make informed business decisions.

Economic Events

Transactions and occurrences that affect the financial position of a business, including sales, purchases, and investments.

Primary Users

Primary users are the main target audience or beneficiaries of a particular set of data or information, such as financial statements intended for investors or creditors.