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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 SAIITTVCIE
ACTIVITIES IATTVICSIE

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

POSITION IIOTNPOS
POSITION INSOOTIP

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

REVENUES SNVERUEE
REVENUES EESVNREU

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

RESTRICTIONS RITISOSRCETN
RESTRICTIONS ONITESRTRSIC

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

FUNDRAISING IGNRIFUDASN
FUNDRAISING UNGIAINRSFD

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

EXPENSES ENSEPSEX
EXPENSES SEPXNESE

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

DEPRECIATION CEPDNEAOIIRT
DEPRECIATION IPNEDOIEACRT

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 EPARYTRLMOI
TEMPORARILY RITRYLMPAEO

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

LIQUIDITY UYIDIILTQ
LIQUIDITY UIILYDIQT

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

BOARD BAROD
BOARD BADOR

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

FUNCTIONAL CUAFNONLTI
FUNCTIONAL NFCAITONUL

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

ENDOWMENT NOWDETMEN
ENDOWMENT ENMOENTDW

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

ASSETS ESASTS
ASSETS ASSTSE

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

MANAGEMENT ATAMMNNGEE
MANAGEMENT NNTAMEGEAM

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

WHOLE WELHO
WHOLE OWLHE

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 ANENPLTMYER
PERMANENTLY NPETYLMARNE

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

EXEMPT TPMEEX
EXEMPT EMEXTP

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

FASB BASF
FASB ABSF

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 CNGHEA
CHANGE EGNCAH

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

FISCAL ACFLSI
FISCAL ICSFLA
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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.

Learn More About Harold

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