Private Not-for-Profit (NFP) Entities.Select from this list of terms to answer the following questions. A. Fair value B. Net assets without donor restrictions C. GASB D. FASB E. Statement of Revenues, Expenditures, and Changes in Fund Balance F. Lower of cost or market G. Accrual method H. Statement of Activities I. General fund, restricted fund, endowment fund J. Modified accrual method K. Net assets with donor restrictions L. Endowment fund M. Unrestricted, temporarily restricted, permanently restricted N. Depreciation O. Works of art and other historical treasures P. General fund Q. Cost Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all."Classification of contributions restricted by purpose"
describes which term listed above?
What will be an ideal response?
Answer: K
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Which of the following is not true about an ESOP?
a. An ESOP will reduce the amount of voting stock in the hands of employees. b. An ESOP must be a permanent trusted plan for the exclusive benefit of the employees. c. The plan participants become eligible for favorable taxation of distributions from the plan. d. Commercial lending institutions, insurance companies, and mutual funds are permitted an exclusion from income for 50% of the interest received on loans used to finance an ESOP's acquisition of company stock. e. An ESOP may reduce the potential of an unfriendly takeover.
Book value per share measures the current value of the net assets on a per share basis
Indicate whether the statement is true or false
Standards can be computed for materials, labor, and overhead
Indicate whether the statement is true or false
When a bond sells at a premium:
A. It means that the bond is a zero coupon bond. B. The bond pays no interest. C. The contract rate is above the market rate. D. The contract rate is equal to the market rate. E. The contract rate is below the market rate.