How Is the Deferral Method of Accounting for Contributions to Not-For-Profit

question 3

Multiple Choice

How is the deferral method of accounting for contributions to not-for-profit organizations applied in the case of unrestricted,endowment and restricted contributions?

• A)Unrestricted and restricted contributions must be matched against expenses because of the matching principle.
• B)Net assets maintained permanently in endowments.
• C)Unrestricted Net Assets
• D)Net assets invested in operations.

Recognize the role of the judicial branch and the concept of judicial review in the U.S. political system.

Discuss the mechanisms designed to promote national unity and prevent discrimination among states.

Outline the process and requirements for the formal adoption of the U.S. Constitution.

Describe the motivations and desired outcomes behind the control of interstate commerce and finance by the national government.

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Definitions:

District Court

is a type of court of the United States federal court system, where trials and lawsuits are initially filed and heard.

In Personam Jurisdiction

The power of a court to require that a party (usually the defendant) or a witness come before the court; extends to the state’s borders in the state court system and across the court’s geographic district in the federal system. Also called personal jurisdiction and jurisdiction in personam.

Internet Transactions

Business or financial transactions conducted online, typically involving the buying and selling of goods or services.

Federal Statutory Law

Laws enacted by the United States Congress that apply to the entire country and are recorded in the United States Code.