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Nonprofit Accounting (Word Scramble)

Author:
Harold Averkamp, CPA, MBA

To see each answer, press or click on the blue "Unscramble" button. 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 AESITIIVTC
ACTIVITIES IICSVTTIAE

2. The balance sheet of a nonprofit will likely have as part of its heading "statement of financial _______________".

POSITION PTISNIOO
POSITION TPSIOOIN

3. Contributions received by a nonprofit are reported as part of the organization's ____________________.

REVENUES NEVEEUSR
REVENUES EESVNEUR

4. When an asset is released from a donor restriction, there will be an increase in net assets without donor _______________.

RESTRICTIONS RETSSITOCRIN
RESTRICTIONS STNCIESRTROI

5. This type of supporting services expense must be reported separately by a nonprofit organization.

FUNDRAISING GDNIUNAIRSF
FUNDRAISING NUGRISNFDIA

6. These will cause a decrease in the amount of net assets without donor restrictions.

EXPENSES ENSSXEPE
EXPENSES SEPEENXS

7. This expense is associated with long-lived assets used in the activities of a nonprofit.

DEPRECIATION DTIINCERPAEO
DEPRECIATION CTERNPAOIDEI

8. A ___________________ restricted designation was one of the classes of donor-imposed restrictions that will not be used on the financial statements beginning in 2018.

TEMPORARILY ERRYPLITOMA
TEMPORARILY AYTPLREORIM

9. Beginning in 2018, a nonprofit must provide additional information regarding restrictions and the organization's ___________________.

LIQUIDITY UTLIIDQIY
LIQUIDITY IQILUIYDT

10. Designations made by a nonprofit's ________________ are reported as net assets without donor restrictions.

BOARD AOBDR
BOARD RBOAD

11. The statement of ______________ expenses reports expenses by both function and nature and is required for nonprofit entities.

FUNCTIONAL NOICUTNAFL
FUNCTIONAL AIFTNOUNLC

12. An asset where the principal must be held in perpetuity.

ENDOWMENT TWOEMDNEN
ENDOWMENT TNODNEEWM

13. The nonprofit organization's statement of activities reports the change in its net __________ during a specified period of time.

ASSETS SSAETS
ASSETS ASSTSE

14. A classification of supporting services expenses is _________________ and general.

MANAGEMENT MENAEANTMG
MANAGEMENT GNNMTAAEME

15. The external financial statements of a nonprofit must focus on the organization as a ___________ rather than reporting by funds.

WHOLE OHLWE
WHOLE OWHEL

16. Beginning in 2018, the classification, _________________ restricted net assets, will not be used and the amounts will be included in net assets with donor restrictions.

PERMANENTLY RLENATMNPYE
PERMANENTLY NEPLAREYTMN

17. The IRS Form 990 must be filed by many nonprofit organizations which have been granted tax-_________ status.

EXEMPT PTEXME
EXEMPT PXTEME

18. The external financial statements of a U.S. nonprofit organization must comply with the reporting standards of the ________.

FASB ABSF
FASB BAFS

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 NHGECA
CHANGE CNGHEA

20. A financial reporting year not ending on December 31 is referred to as a ___________ year.

FISCAL ICALFS
FISCAL ACFISL
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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