Q All revenues and expenses of a Non-profit organisation are reported on its statement ofA. ReportB. ActivitiesC. BothD. None
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All assets and liabilities of Non-profit organisation are reported on its statement ofA. Cash Flow statementB. Financial positionC. Income positionD. Fund flow statement
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The statement of _______ may be prepared under the direct or indirect method.A. Cash FlowB. Balance sheetC. Fund flowD. Income statement
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Classifying expenses into program activities and supporting activities is known as the _______ basisA. FunctionalB. NaturalC. BothD. None
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Reporting expenses by categories such as salaries, rent, utilities, etc. is known as the ______ basis.A. FunctionalB. NaturalC. NoneD. Both
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Fund earmarked for investment in fixed assets is known asA. Loan FundB. Annuity fundC. Assets fundD. Prize fund
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Which of the following is not an restricted fundA. Annuity fundB. Assets fundC. Prize fundD. General fund
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The two types of restrictions on contributions that are classified as temporarily restricted are purpose andA. TimeB. MomentC. PeriodD. None
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All expenses of a Non-profit organisation are reported as part of the changes in ___________________ net assets.A. UnrestrictedB. Permanently restrictedC. Temporarily restrictedD. None
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Normally the principal portion of an endowment will be classified as _________________ net assets.A. Temporarily restrictedB. UnrestrictedC. Permanently restrictedD. None
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