A Private Not-For-Profit's Expenses Are Reported By, Program or Supporting

question 129

True/False

A private not-for-profit's expenses are reported by, program or supporting, in the Statement of Activities or in the notes.

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Definitions:

Planning

Planning in a financial context involves the process of setting goals, developing strategies, and outlining tasks and schedules to achieve financial objectives efficiently.

Percentage of Sales Methods

A financial forecasting model that bases future year's projections for various financial items as a fixed percentage of the annual sales figure.

Projected Income Statement

A financial statement that estimates a company's revenue, expenses, and net income for a future period.

Cash Budgeting

A forecast of cash flows based on expected receipts and disbursements rather than on projections of income statement and balance sheet accounts.