Nonprofit organizations primarily rely on three sources of funding: individual donations, corporate donations, and federal funds.
Answer the following statement true (T) or false (F)
False
Individual donations, special events, and grants are the three sources of funding nonprofits primarily rely on, and marketing plays an important role in securing each.
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During the year just ended, the retailer James Corporation purchased $454,000 of inventory. The inventory balance at the beginning of the year was $206,000. If the cost of goods sold for the year was $478,000, then the inventory turnover for the year was:
A. 2.46 B. 2.34 C. 2.63 D. 2.32
When proofreading a résumé, what is the goal for the headings?
A) Correct punctuation B) Parallelism C) Attention getting devices D) Support for the material that follows E) Visual enhancement
Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation
A) demographic B) psychographic C) geographic D) occasion E) benefit
Forman Corporation extends credit to its customers to purchase appliances, furniture, and other goods. Forman Corporation could borrow from a bank using its accounts receivable as collateral, thereby placing debt on the balance sheet. Forman Corporation would then use the cash collections from the receivables to repay the bank loan with interest. Instead, Forman Corporation sells the accounts
receivable to the bank for an amount that is less than the cash the bank expects to collect from receivables purchased. The amount takes account of expected defaults, which would reduce the cash generated by the receivables. This difference between the amount paid to Forman Corporation by the bank for the receivables and the amount that the bank expects to collect from the receivables provides the bank with its expected return. Which of the following is/are true? a. Forman Corporation has no further obligation and will treat this transaction as a sale, with no incremental debt on the balance sheet and recognizing bad debt expense on the income statement. b. Forman Corporation has further obligations and will treat this transaction as a financing arrangement, recognizing bad debt expense on the income statement. c. Forman Corporation has further obligations and will treat this transaction as a financing arrangement, recognizing incremental debt on the balance sheet. d. Forman Corporation has no further obligation and will treat this transaction as a sale, with no incremental debt on the balance sheet. e. Forman Corporation has further obligations and will treat this transaction as a financing arrangement, recognizing incremental debt on the balance sheet and recognizing bad debt expense on the income statement.