Nonprofit Accounting (Word Scramble)

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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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