Answer the following statements true (T) or false (F)
1. Nonprofit organizations cannot receive contracts from local governments.
2. The relationship between a nonprofit organization and a government funding source is considered to
be complementary.
3. Nonprofit organizations cannot combine government funds with private funds.
4. Dependence on government contracts makes nonprofits more responsive to government officials.
5. Public officials perceive the purposes of nonprofits are not aligned with the purposes of government.
1. False
2. True
3. False
4. True
5. False
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Which of the following would give rise to abnormal earnings?
a. Accelerated depreciation b. LIFO costing for inventories and cost of goods sold c. Immediate write-off of research and development d. All of the above
Who is the mortgagor in a mortgage transaction?
A) The borrower B) The lender C) The seller of the property D) The party who arranges the loan for the lender E) The party who forecloses a piece of property
Over the course of a year, Retail Market, Inc., sells goods from its inventory and one of its warehouses. In exchange, Retail receives checks and other items that substitute for cash, which Retail uses to repay a loan from Savers Bank. Article 2 of the UCC governs
A. the checks. B. the payment of the loan. C. the sale of the buildings. D. the sale of the goods.
A type of insurance in which the insured and the insurer share the risk of a loss due to fire is:
A) coinsurance. B) non-forfeiture insurance. C) no-fault insurance. D) reinsurance.