What determines the treatment of research grants from private foundations? a. Record as revenue when received b. Recognize based on time periods c. Defer until project completion d. Match expenses with grant conditions MCQ
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What determines the treatment of research grants from private foundations? a. Record as revenue when received b. Recognize based on time periods c. Defer until project completion d. Match expenses with grant conditions MCQ
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- Which is correct?Which of the following would be considered a general capital asset? Select one: a. Real estate purchased with the assets of a pension trust fund. b. A vehicle purchased from General Fund revenues. c. A vehicle purchased and maintained by an enterprise fund. d. A computer purchased from revenues of an internal service fund and used by the supplies department.An NFP organization receives supplies from a donor. At what amount is the donation reported in contribution revenue? Select one: A. The donor's cost B. Fair value at the date of donation C. Fair value at year-end D. Zero
- The organization earns and unrealized gain on its permanent endowment. Is this change in net assets with or without donor restrictions?If an internal service fund is intended to operate on a cost-reimbursement basis, then user charges should a. cover the full costs, both direct and indirect, of operating the fund. b. cover the full costs of operating the fund and provide for future expansion and replacement of capital assets. c. cover at a minimum the direct costs of operating the fund. d. do all of the above.What other sources provide resources for capital projects funds?
- Amount at which to record donated property? Which funds would record things such as long-term assets, long-term liabilities, encumbrance, etc?The financial statements of an Enterprise fund are prepared using the Full Accrual Modified Accrual Economic Resources Current Financial Resources Basis Basis Measurement Focus Measurement Focus A.) No Yes Yes No B.) Yes No No Yes C.) No Yes No Yes D.) Yes No Yes NoCompared to direct transactions between ultimate fund users and providers, fee-charging, profit-oriented financial institutions provide the benefit of _____. I. reducing the search costs and improving matching between fund users and providers II. transforming the size, duration, risk and liquidity of assets to better serve the needs of fund users and providers III. providing information-related products and services to fund users and providers Group of answer choices a. I b. I and II c. I and III d. I, II and III
- originally if the account owner.did not specify an investment account contributions into a tsp were deposited into the g fund into what fund do contributions automatically go currentlyFor each of the following accounts indicate in which fund type it could be found. Select your answer from the following responses: A. Governmental funds only. B. Proprietary funds only. Bond Proceeds Long Term liability for Compensated Absences Deferred Inflows/Outflows of Resources Taxes Receivable Estimated Revenues Operating RevenuesA board sets aside resources to earn investment income to support general operations. Would the resources set aside be recorded in a fund with donor restrictions or a fund without donor restrictions? Would the earnings be recorded in a fund with donor restrictions or a fund without donor restrictions?