GASB Requires the ____________ Method to Report Cash Flows from Operating

question 103

Multiple Choice

GASB requires the ____________ method to report cash flows from operating activities in the Statement of Cash Flows.

• A) Indirect.
• B) Direct.
• C) Modified accrual
• D) Full accrual

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Definitions:

Philanthropic Giving

The act of donating money, goods, services, and time to support charitable causes and contribute to the welfare of others.

Fundraising Pyramid

A graphical representation used by nonprofits to illustrate the hierarchy of donor giving, starting from small individual donors at the base to major gifts at the top.

Giving Life Cycle

Stages through which an individual or entity passes as they become aware of, decide upon, and engage in philanthropic giving.

Charitable Remainder Trusts

A type of trust that provides a donor with income for a period of time, with the remaining assets going to charity upon the trust's termination.