Day 27 - Day After

Question 1

Marble foundation, a NFP is financially interrelated with is beneficiary organization, Boulder University. How would receipts of Marble be displayed on Boulders FS?

Answer 1

A change in the university’s interest in the foundation on the Stmt of Activities

Beneficiaries (Boulder) with financial interest in recipient organizations (Marble) recognize the change in their recipient organization on their Stmt of activities

MCQ-05151

Question 2

Pville hospital normal includes proceeds from cafeteria meals in:

Answer 2

Other Revenues

MCQ-01301

Question 3

What is the characterization of the net assets of a nongovernmental NFP organization?

Answer 3

Residual Interest

Ownership interest of a NFP are not like business, resources do not believe to owners

The entity was setup for a mission and that’s it’s purpose

MCQ-05623

Question 4

Define: Contribution Revenue for NFP

Answer 4

Transactions that are UNCONDITIONAL, non-reciprocal, voluntary, and not for an Ownership investment

MCQ-01248