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If you have difficulty answering the following questions, learn more about this topic by reading our Nonprofit Accounting (Explanation).
|1. In place of an income statement, a not-for-profit organization, or nonprofit, will issue a statement of _____________.||ACTIVITIES IVEISTICAT||Unscramble|
|2. The balance sheet of a nonprofit will likely have as part of its heading "statement of financial _______________".||POSITION INOPISTO||Unscramble|
|3. Contributions received by a nonprofit are reported as part of the organization's ____________________.||REVENUES EUNVSEER||Unscramble|
|4. When an asset is released from a donor restriction, there will be an increase in net assets without donor _______________.||RESTRICTIONS OTSIRTRCIESN||Unscramble|
|5. This type of supporting services expense must be reported separately by a nonprofit organization.||FUNDRAISING NUGRINDIFSA||Unscramble|
|6. These will cause a decrease in the amount of net assets without donor restrictions.||EXPENSES SNPEESXE||Unscramble|
|7. This expense is associated with long-lived assets used in the activities of a nonprofit.||DEPRECIATION EIPTDORACENI||Unscramble|
|8. Two classifications of a nonprofit's net assets are net assets 1) with and 2) without ___________________ restrictions.||DONOR NOORD||Unscramble|
|9. A nonprofit must provide additional information regarding restrictions and the organization's ___________________.||LIQUIDITY UDQYILTII||Unscramble|
|10. Designations made by a nonprofit's ________________ are reported as net assets without donor restrictions.||BOARD RBADO||Unscramble|
|11. The statement of ______________ expenses reports expenses by both function and nature and is required for nonprofit entities.||FUNCTIONAL NOLAFICNUT||Unscramble|
|12. An asset where the principal must be held in perpetuity.||ENDOWMENT NOTMEWEDN||Unscramble|
|13. The nonprofit organization's statement of activities reports the change in its net __________ during a specified period of time.||ASSETS STASES||Unscramble|
|14. A classification of supporting services expenses is _________________ and general.||MANAGEMENT GEEMTNNAAM||Unscramble|
|15. The external financial statements of a nonprofit must focus on the organization as a ___________ rather than reporting by funds.||WHOLE LWEOH||Unscramble|
|16. The accounting rules for nonprofit entities are Topic 958 in the FASB's Accounting Standards _________________.||CODIFICATION OTANIDCFOICI||Unscramble|
|17. The IRS Form 990 must be filed by many nonprofit organizations which have been granted tax-_________ status.||EXEMPT TPXEEM||Unscramble|
|18. The external financial statements of a U.S. nonprofit organization must comply with the reporting standards of the ________.||FASB ABFS||Unscramble|
|19. If the nonprofit's statement of cash flows is prepared under the indirect method, the first amount listed is the ___________ in net assets.||CHANGE GACENH||Unscramble|
|20. A financial reporting year not ending on December 31 is referred to as a ___________ year.||FISCAL ASIFLC||Unscramble|
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