Not-For-Profit Organisation Quizz

1. Q All revenues and expenses of a Non-profit organisation are reported on its statement of

A. Report

B. Activities

C. Both

D. None

Question 1 of 10

2. All assets and liabilities of Non-profit organisation are reported on its statement of

A. Cash Flow statement

B. Financial position

C. Income position

D. Fund flow statement

Question 2 of 10

3. The statement of _______ may be prepared under the direct or indirect method.

A. Cash Flow

B. Balance sheet

C. Fund flow

D. Income statement

Question 3 of 10

4. Classifying expenses into program activities and supporting activities is known as the _______ basis

A. Functional

B. Natural

C. Both

D. None

Question 4 of 10

5. Reporting expenses by categories such as salaries, rent, utilities, etc. is known as the ______ basis.

A. Functional

B. Natural

C. None

D. Both

Question 5 of 10

6. Fund earmarked for investment in fixed assets is known as

A. Loan Fund

B. Annuity fund

C. Assets fund

D. Prize fund

Question 6 of 10

7. Which of the following is not an restricted fund

A. Annuity fund

B. Assets fund

C. Prize fund

D. General fund

Question 7 of 10

8. The two types of restrictions on contributions that are classified as temporarily restricted are purpose and

A. Time

B. Moment

C. Period

D. None

Question 8 of 10

9. All expenses of a Non-profit organisation are reported as part of the changes in ___________________ net assets.

A. Unrestricted

B. Permanently restricted

C. Temporarily restricted

D. None

Question 9 of 10

10. Normally the principal portion of an endowment will be classified as _________________ net assets.

A. Temporarily restricted

B. Unrestricted

C. Permanently restricted

D. None

Question 10 of 10