Not For Profit Accounting MCQs

?

The statement of cash flows for a private not-for-profit hospital should report cash flows according to which of the following classifications? I. ...






?

Pharm, a nongovernmental not-for-profit organization, is preparing its year-end financial statements. Which of the following statements is required?...






?

Stanton College, a not-for-profit organization, received a building with no donor stipulations as to its use. Stanton does not have an accounting po...






?

Sea Lion Park, a private not-for-profit zoological society, received contributions restricted for research totaling $50,000 in 2011. None of the con...






?

Clara Hospital, a private not-for-profit hospital, earned $250,000 of gift shop revenues and spent $50,000 on research during the year ended Decembe...






?

Which of the following transactions of a private not-forprofit voluntary health and welfare organization would increase temporarily restricted net a...






?

Catherine College, a private not-for-profit college, received the following contributions during 2012: I. $5,000,000 from alumni for construction of...






?

On December 31, 2012, Hope Haven, a private not-forprofit voluntary health and welfare organization, received a pledge from a donor who stipulated t...






?

For Guiding Light, a nongovernmental nonprofit religious organization, net assets that can be expended in accordance with the wishes of the governin...






?

United Hope, a private not-for-profit voluntary health and welfare organization, received the following contributions in 2012: I. $500 from donors ...






?

A statement of financial position (balance sheet), which reports unrestricted, temporarily restricted, and permanently restricted net assets, is req...






?

A storm broke glass windows in the building of Lea Meditators, a not-for-profit religious organization. A member of Leas congregation, a profession...






?

Financial statements of not-for-profit organizations focus on






?

On December 30, 2012, Leigh Museum, a not-for-profit organization, received a $7,000,000 donation of Day Co. shares with donor-stipulated requiremen...






?

The Jones family lost its home in a fire. On December 25, 2012, a philanthropist sent money to the Amer Benevolent Society, a not-for-profit organiz...






?

If the Pel Museum, a not-for-profit organization, received a contribution of historical artifacts, it need not recognize the contribution if the art...






?

A large not-for-profit organizations statement of activities should report the net change for net assets that are Unrestricted Permanently restrict...






?

Which of the following classifications is required for reporting of expenses by all not-for-profit organizations?






?

Rosary Botanical Gardens, a private not-for-profit organization, established a $500,000 quasi endowment on September 1, 2012. On the gardens statem...






?

During 2011, an alumnus of Smith College, a private notfor- profit college, transferred $100,000 to the college with the stipulation that it be spen...






?

During the year ended December 31, 2012, a not-for-profit performing arts entity received the following donor-restricted contribution and investment...






?

Which of the following private, nonprofit entities is required to report expenses both by function and by natural classification?






?

On December 5, 2012, Jones Heating and Air Conditioning Service repaired the heating system in the building occupied by Good Hope, a private not-for...






?

During the year ended December 31, 2012, the James Community Foundation, a private not-for-profit organization, received the following contributed s...






?

Child Care Centers, Inc., a not-for-profit organization, receives revenue from various sources during the year to support its day care centers. The ...






?

On December 20, 2012, United Appeal, a private not-forprofit voluntary health and welfare organization, received a donation of computer equipment va...






?

On December 30, 2012, the Board of Trustees of Henry Museum, a private not-for-profit organization, designated $4,000,000 of unrestricted net assets...






?

For a private, not-for-profit organization, when is a donors conditional promise to give considered to be unconditional?






?

A not-for-profit organization receives $150 from a donor. The donor receives two tickets to a theater show and an acknowledgment in the theater prog...






?

On November 30, 2011, Justin Barlow, an alumnus of Murry School, a private, not-for-profit high school, contributed $15,000, with the stipulation th...






?

A private not-for-profit voluntary health and welfare organization received a cash donation in 2009 that contained a donor-imposed restriction that ...






?

In the financial statements of not-for-profit organizations, reporting re-classifications are caused by which of the following? I. Expiration of don...






?

Which of the following transactions would result in an increase in unrestricted net assets for the year ended December 31, 2012? I. A private, not-...






?

Benevolent Society, a private not-for-profit organization, should recognize contributed services on its statement of activities if which of the foll...






?

During 2012, Margaret Billingsley, a prominent art collector, donated several items in her collection to the Darrwin Museum, a private, not-for-prof...






?

Which of the following transactions or events would cause an increase in unrestricted net assets for the year ended December 31, 2012? I. A private...






?

How should a private not-for-profit hospital report its investments in debt securities that are classified as current assets and noncurrent assets o...






?

Mary Egbart promised Columbus College, a private, notfor- profit college, that she would provide 80% of the funds needed to construct a new performi...






?

The governing board of Crestfallen, a private not-for-profit voluntary health and welfare organization, acquired equity securities of BMZ Company at...






?

Jazz Planners, a private not-for-profit performing arts organization, has donor-restricted permanent endowment funds which include investments in eq...






?

Rose Smith made a cash donation for a specific purpose in December 2012, to United Ways, a nongovernmental, nonprofit organization that raises contr...






?

World-Wide Helpers Foundation, a nonprofit entity, received a cash donation in 2012 from Herold Smith. World-Wide Helpers Foundation is controlled b...






?

A cash donation from a resource provider should be reported as contribution revenue by a recipient organization when which of the following exists? ...






?

Peter Smith made a cash donation in January 2012, to World-Wide Helpers, a nongovernmental, nonprofit organization that raises contributions for oth...






?

The Taft family lost its home in a flood in October 2012. In November of 2012, Mary Wilson donated cash to Goodbody Benevolent Society to purchase f...






?

An arrangement where a donor makes an initial gift to a trust or directly to the not-for-profit organization, in which the not-for-profit organizati...






?

Under which of the following cases should joint costs be allocated between fund-raising and the appropriate program or management and general functi...






?

Which of the following are considered to be capital additions in the statement of activity of a not-for-profit organization? I. Nonexpendable gifts,...






?

Depending on the extent of discretion that the not-for-profit recipient has over the use or subsequent disposition of the assets, gifts in kind may ...






?

A not-for-profit organization receives an asset for which they have little or no discretion over the use of the asset. The organization should repor...






?

Elizabeth Hospital, a nonprofit hospital affiliated with a religious group, should prepare which of the following financial statements? Statement o...






?

For private sector health care organizations, which of the following is included in patient service revenue?






?

Which of the following is not covered by the AICPA Audit and Accounting Guide, Health Care Organizations?






?

Which of the following can be included in the performance indicator on the statement of operations for private sector health care organizations?






?

If private not-for-profit health care entities do not use this expense classification on the operating statement, they must provide it in the notes....






?

When functional classifications are used by private sector health care organizations, they should be based on






?

Which of the following would be acceptable as a performance indicator on a private sector health care entitys statement of operations? a. b. c. d.






?

How is charity care accounted for on the financial statements of a not-for-profit private sector health care organization?






?

How are nonrefundable advance fees representing payments for future services to be accounted for by nonprofit continuing care retirement communities...






?

Kash Hospital, a private sector, not-for-profit organization, has gross patient service revenues of $750,000, charity care of $75,000, amounts disal...






?

James Hospital, a nonprofit hospital affiliated with a private university, provided $200,000 of charity care for patients during the year ended Dece...






?

Swathmore Hospital, a nonprofit hospital affiliated with Swathmore University, received the following cash contributions from donors during the year...






?

The governing board of Smithson Hospital, a nonprofit hospital affiliated with a religious organization, acquired 100 BMI Company bonds for $103,000...






?

On the statement of operations for a nonprofit, nongovernmental hospital, which of the items below is included in the amount reported for revenue a...






?

Tucker Hospital, a nonprofit hospital affiliated with Tucker University, received a donation of medical supplies during the year ended December 31, ...






?

Which of the following financial statements of a private, nonprofit hospital reports the changes in unrestricted, temporarily restricted, and perman...






?

Unrealized gains on investments which are permanently restricted as to use by donors are reported by a private, nonprofit hospital on the






?

The statement of operations for a private, nonprofit hospital should include a performance indicator that indicates the results of operations for a ...






?

A statement of functional expenses is required for which one of the following private nonprofit organizations?






?

The statement of financial position (balance sheet) for Founders Library, a private nonprofit organization, should report separate dollar amounts fo...






?

Kerry College, a private not-for-profit college, received $25,000 from Ms. Mary Smith on April 30, 2012. Ms. Smith stipulated that her contribution ...






?

Good Hope, a private not-for-profit voluntary health and welfare organization, received a cash donation of $500,000 from Mr. Charles Peobody on Nove...






?

On the statement of activities for a private not-for-profit performing arts center, expenses should be deducted from I. Unrestricted revenues. II. ...






?

Albert University, a private not-for-profit university, had the following cash inflows during the year ended June 30, 2012: I. $500,000 from student...






?

Gamma Pi, a private nonprofit fraternal organization, should prepare a statement of financial position and which of the following financial statemen...






?

Save the Planet, a private nonprofit research organization, received a $500,000 contribution from Ms. Susan Clark. Ms. Clark stipulated that her don...






?

United Ways, a private not-for-profit voluntary health and welfare organization, received a contribution of $10,000 from a donor in 2011. The donor ...






?

The statement of cash flows for a private not-for-profit hospital should report cash flows according to which of the following classifications? I. ...






?

Pharm, a nongovernmental not-for-profit organization, is preparing its year-end financial statements. Which of the following statements is required?...






?

Stanton College, a not-for-profit organization, received a building with no donor stipulations as to its use. Stanton does not have an accounting po...






?

Sea Lion Park, a private not-for-profit zoological society, received contributions restricted for research totaling $50,000 in 2011. None of the con...






?

Clara Hospital, a private not-for-profit hospital, earned $250,000 of gift shop revenues and spent $50,000 on research during the year ended Decembe...






?

Which of the following transactions of a private not-forprofit voluntary health and welfare organization would increase temporarily restricted net a...






?

Catherine College, a private not-for-profit college, received the following contributions during 2012: I. $5,000,000 from alumni for construction of...






?

On December 31, 2012, Hope Haven, a private not-forprofit voluntary health and welfare organization, received a pledge from a donor who stipulated t...






?

For Guiding Light, a nongovernmental nonprofit religious organization, net assets that can be expended in accordance with the wishes of the governin...






?

United Hope, a private not-for-profit voluntary health and welfare organization, received the following contributions in 2012: I. $500 from donors ...






?

A statement of financial position (balance sheet), which reports unrestricted, temporarily restricted, and permanently restricted net assets, is req...






?

A storm broke glass windows in the building of Lea Meditators, a not-for-profit religious organization. A member of Lea’s congregation, a professi...






?

Financial statements of not-for-profit organizations focus on






?

On December 30, 2012, Leigh Museum, a not-for-profit organization, received a $7,000,000 donation of Day Co. shares with donor-stipulated requiremen...






?

The Jones family lost its home in a fire. On December 25, 2012, a philanthropist sent money to the Amer Benevolent Society, a not-for-profit organiz...






?

If the Pel Museum, a not-for-profit organization, received a contribution of historical artifacts, it need not recognize the contribution if the art...






?

Which of the following classifications is required for reporting of expenses by all not-for-profit organizations?






?

Rosary Botanical Gardens, a private not-for-profit organization, established a $500,000 quasi endowment on September 1, 2012. On the garden’s stat...






?

During 2011, an alumnus of Smith College, a private notfor- profit college, transferred $100,000 to the college with the stipulation that it be spen...






?

During the year ended December 31, 2012, a not-for-profit performing arts entity received the following donor-restricted contribution and investment...






?

Which of the following private, nonprofit entities is required to report expenses both by function and by natural classification?






?

On December 5, 2012, Jones Heating and Air Conditioning Service repaired the heating system in the building occupied by Good Hope, a private not-for...






?

During the year ended December 31, 2012, the James Community Foundation, a private not-for-profit organization, received the following contributed s...