Nonprofit (Not-for-Profit) Accounting

If you have difficulty answering the following questions, learn more about this topic by reading our Explanation of Nonprofit Accounting.

NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".

	Word Clue	Scrambled Answer	Unscrambled Answer
1.	In place of an income statement, a not-for-profit organization, or nonprofit, will issue a statement of _____________.	IVEISTICAT	ACTIVITIES
2.	The balance sheet of a nonprofit will likely have as part of its heading "statement of financial _______________".	INOPISTO	POSITION
3.	Contributions received by a nonprofit are reported as part of the organization's ____________________.	EUNVSEER	REVENUES
4.	When an asset is released from a temporary restriction, there will be an increase in _______________ net assets.	SIRTRUCDTEEN	UNRESTRICTED
5.	This type of supporting services expense must be reported separately by a nonprofit organization.	NUGRINDIFSA	FUNDRAISING
6.	These will cause a decrease in the amount of unrestricted net assets.	SNPEESXE	EXPENSES
7.	This expense is associated with long-lived assets used in the activities of a nonprofit.	EIPTDORACENI	DEPRECIATION
8.	A ___________________ restricted contribution is one of the classes of donor-imposed restrictions.	PREYMILROTA	TEMPORARILY
9.	One type of temporary restriction.	IETM	TIME
10.	Another type of temporary restriction.	SOUPPER	PURPOSE
11.	The statement of ______________ expenses reports expenses by both function and nature.	NOLAFICNUT	FUNCTIONAL
12.	An asset where the principal must be held in perpetuity.	NOTMEWEDN	ENDOWMENT
13.	The nonprofit organization's statement of activities reports the change in its net __________ during a specified period of time.	STASES	ASSETS
14.	A classification of supporting services expenses is _________________ and general.	GEEMTNNAAM	MANAGEMENT
15.	The external financial statements of a nonprofit must focus on the organization as a ___________ rather than reporting by funds.	LWEOH	WHOLE
16.	One of the classes of net assets is _________________ restricted net assets.	TALEMNPREYN	PERMANENTLY
17.	The IRS Form 990 must be filed by many nonprofit organizations which have been granted tax-_________ status.	TPXEEM	EXEMPT
18.	The external financial statements of a U.S. nonprofit organization must comply with the reporting standards of the ________.	ABFS	FASB
19.	If the nonprofit's statement of cash flows is prepared under the indirect method, the first amount listed is the ___________ in net assets.	GACENH	CHANGE
20.	A financial reporting year not ending on December 31 is referred to as a ___________ year.	ASIFLC	FISCAL

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