Why should the reserve fund be not distributed to member upon dissolution but to usufructuary trust fund for federation or union or donate to community?

Q: Explain Not-for-profit entities.

A: Earnings: The bottom line of income statement which is the result of excess of earnings from…

Q: Do the principles of natural justice apply to incorporated and unincorporated societies? – explain…

A: A business organization can be formed in various business organizations, such as a sole…

Q: Answer the question please What are restricted assets and how are they shown in the financial…

A: The assets are considered as the resources of the business which is invested by the owners or…

Q: What extent a member is liable to cooperative debts? -Discuss the procedure when the board of…

A: Co-operative Society:   A Co-operative Society is an artificial voluntary association of people who…

Q: The trustees (Members) appointed in the non-profit organization Select one: a. None of the other…

A: Trustee is the person who is entrusted with the work of managing the non profit organization.

Q: Which of the following statements is true? O a. The principal of permanent funds are classified as…

A: Permanent Funds: It may be referred to as a fund wherein the principal amount isn't being utilized…

Q: What is the major difference between a for-profit and a not-for-profit organization?

A: Organization is considered to a be setting under which the group of people comes together and these…

Q: Registered charities and non-profit organizations are taxed on their profit or income.

A: Government organisations and charities come under the not for profit organisation.

Q: State the various types of contributions that a private not-for-profit entity can receive.

A: Types of contributions that a private not for profit entity can receive are: Cash contributions In…

Q: Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension…

A: Capital projects funds are utilised for accounting the financial resources which is in turn used for…

Q: What information do financial statement users want to know about a not-for-profit entity?

A: Non profit entity is an entity which is operating to achieve objectives of public welfare and main…

Q: In Governmental and Nonprofit Accounting, the use of fund accounting is a unique feature, allowing…

A: In Governmental and Nonprofit Accounting, the use of fund accounting is a unique feature, allowing…

Q: Under what conditions does a not-for-profit entity record donated services?

A: For a not for entity, donated services are a good part of revenue for not for profit entities.…

Q: 12) Internal Service Funds differ from Enterprise Funds because Internal Service Funds A) are a…

A: Internal Service is used to track goods and Services transferred to other government agencies on…

Q: If a company takes funds from it's pension fund for operating purposes it is in violation of what…

A: The regulation mentioned in Employee Retirement Income Security Act , 1974 as amended "ERISA" titles…

Q: Why officers and employees of the cooperative development Authority are disqualified from being…

A: In this question, we will explain that Why officers and employees of the cooperative development…

Q: TRUE OR FALSE A non-stock, non-profit institution must be organized for religious, charitable,…

A: A non-stock, non-profit institution has two main components or parts to it – non-stock and…

Q: Which of the following statements about constituent funds in the Mandatory Provident Fund (MPF)…

A: Mandatory provident fund: The scheme initiated by different states to ensure a mandatory…

Q: What are the objectives of financial reporting of not-for-profit organizations?

A: Not-for-profit organizations: Not-for-profit organizations are those organizations that run not for…

Q: You ask a new client, Brad, "what are your financial obligations and what are your assets?" What…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which governmental fund includes resources that are legally restricted so that the governmental…

A: Government needs to collect funds for different purposes such as meeting regulatory requirements,…

Q: Which of the following is true regarding a not-for-profit organization’s reporting of gains and…

A: Given: The gains and losses reported on the purchased investment with the assets which is restricted…

Q: Is the answer pledge correct or is this also a contribution?

A: Is the answer pledge correct or is this also a contribution? Contribution : Unconditional Promise…

Q: What are the financial reporting goals of not-for-profit organizations?

A: Here is the Answer

Q: How should a nongovernmental, not-for-profit organization report contributions without donor‘s…

A: Contributions without donor's restriction are unrestricted funds that the organization can use for…

Q: hat are the objectives of financial reporting of not-for-profit organizations?

A: Not for profit organizations are those organizations which are not meant for the purpose of profit…

Q: Is this set up possible? X a charitable corporation entered into a joint arrangement with SMC…

A: A charitable corporation is an entity which works for "Not-for-profit" motive with a thought process…

Q: In reporting the functional expenses of a not-for-profit entity, what are the two general types of…

A: In reporting the functional expenses of a not-for-profit entity, there are two types of expenses:…

Q: Discuss how characteristics of not-for-profit organizations differ from for-profit organizations

A: Not for profit organisations are formed to render services to the society. Thee main purpose of…

Q: What are not-for-profit corporations?

A: Definition  A nonprofit corporation is a business that exists for the public welfare rather than for…

Q: How are Private Purpose Trust Funds controlled?

A: Funds kept in a qualified trust that is not needed to be disclosed in Pension or Investment trust…

Q: In defined benefit plans no separate investment accounts exist for each participant but rather they…

A: A defined benefit plan is a type of retirement plan, the objective of this plan is to provide a…

Q: 1) What are the functions and Objectives of not-for profit organizations?

A: Not for profit organisations (NPO) are the organisations which are formed not for the  purpose of…

Q: What is not-for-profit corporation?

A: Nonprofit organization: It basically comes under a non-profit motive organization like banking…

Q: Why do we need accounting for non-profit organizations?

A: Not for profit organization: These are the organizations that provide services to the community…