CH 9 NonProfit

Question 1

JE from promises to give

Answer 1

Pledge Receivable XX
Allowance for DA XX
Contributions Rev XX

Question 2

Promise to contribution is

Answer 2

restricted until collected

Question 3

Additional support service don’t forget

Answer 3

membership is not the same as fundraising

Question 4

Statement of CF for investing

Answer 4

Asset and insurance proceeds

Question 5

Conditional/ non contribution receipts are recorded as

Answer 5

Refundable advances liability

Question 6

Quasi Endowment

Answer 6

internally developed funds

Question 7

Temporary Restricted Rule

Answer 7

must be taken out of temp restricted and put into unrestricted to become usable

Question 8

Proceeds from an invested is classified

Answer 8

current asset

Question 9

Statement of Activities shows changes for

Answer 9

unrestricted/temp. restricted / restricted

Question 10

Amount willed is included in contribution

Answer 10

NO

Question 11

Securities, investments, personal assets year end valuation

Answer 11

FMV

Question 12

Function Expenses, Statement of Activities, & Natural Expense clasifications must be reported by

Answer 12

Health and Wealth fare Organizations

Question 13

Cash contributions for long-term project is what type of inflow

Answer 13

Financing

Question 14

Research and Development is classified as what on functions

Answer 14

Program

Question 15

Cost Reimbursement grants are recorded as

Answer 15

unrestricted

Question 16

Donor imposed restrictions met at same period received

Answer 16

unrestricted

Question 17

Restriction criteria

Answer 17

only external donors have the ability to restrict

Question 18

FASB classification can be altered on F/S

Answer 18

yes

Question 19

Tuition wavers effect on contribution revenue

Answer 19

treat as a discount or reduction to revenue

Question 20

Infrastructure asset valuation

Answer 20

historical cost