If the Information You Have Collected Has Some Relation to Geographic

question 72

Multiple Choice

If the information you have collected has some relation to geographic location, you should typically use a _____ division.

• A) place
• B) time
• C) quantity
• D) progress
• E) quality

Differentiate between effectiveness and efficiency within the operations of nonprofit organizations.

Compare various models and approaches (like logic model, balanced scorecard) used for assessing nonprofit performance and outcomes.

Explain the role and impact of watchdog organizations on nonprofit accountability and transparency.

Understand and apply methods for estimating measures of central tendency and variability within real-world data sets.

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Definitions:

Ending Inventory

At the close of an accounting period, the value of products available for sale is calculated by taking the initial inventory, adding any purchases, and then deducting the cost of goods sold.

Cost Flow Assumption

An accounting method that determines the cost of goods sold and ending inventory valuation, examples include FIFO, LIFO, and weighted average.

LIFO

Last In, First Out, is an inventory valuation method assuming that goods purchased last are the first to be sold.

FIFO

First In, First Out, a method used in accounting to manage inventory and financial matters where the first items placed in inventory are the first sold or used.