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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. 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 PREYMILROTA||Unscramble|
|9. Beginning in 2018, 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. 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 TALEMNPREYN||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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