The following are the examples of not-for-profit organizations EXCEPT: a. Religious organizations b. Public colleges and universities c. Community service units d. Museums
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Q: The Oman Museum is a nonprofit organization or government organization? Why? Explain.
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- Which of the following is likely not a type of not-for-profit entity? public library community foundation university local movie theaterWhich one is not related to Non-profit organization? Select one: a. Sales in market b. Community service c. Religious service d. MuseumsWhich of the following best describes a non-profit organization? One in which the leadership is governed by a board of directors O One in which the workforce is made up of volunteers O One that reinvests profit into the organization instead of distributing it to owners One that relies solely on private donations for the organization's financial needs
- Discuss how characteristics of not-for-profit organizations differ from for-profit organizations.The following questions concern the accounting principles and procedures applicable to a private not-for-profit entity. Write answers to each question.a. What is the difference between revenue and public support?b. What is the significance of the statement of functional expenses?c. What accounting process does a private charity use in connection with donated materials? d. What is the difference in the two types of restricted net assets found in the financial records of a private not-for-profit organization?e. Under what conditions should the entity record donated services?f. What is the proper handling of costs associated with direct mail and other solicitations for money that also contain educational materials?g. A not-for-profit receives a painting. Under what conditions can this painting be judged as a work of art? If it meets the criteria for a work of art, how is the financial reporting of the entity affected?9) What are the sources of funds received by the Not-for-Profit Organization?
- What is the major difference between a for-profit and a not-for-profit organization?If we "measure what matters" in a not-for-profit, what activities could they be measuring that are different than the for-profit organization? 1-2 paragrahsThe following questions concern the accounting principles and procedures applicable to a private not-for-profit entity. Write answers to each question. What is the difference between revenue and public support? What is the significance of the statement of functional expenses? What accounting process does a private charity use in connection with donated materials? What is the difference in the two types of restricted net assets found in the financial records of a private not-for-profit organization? Under what conditions should the entity record donated services? What is the proper handling of costs associated with direct mail and other solicitations for money that also contain educational materials? A not-for-profit receives a painting. Under what conditions can this painting be judged as a work of art? If it meets the criteria for a work of art, how is the financial reporting of the entity affected?
- What are the financial reporting goals of not-for-profit organizations?Which of the following best describes a non-profit organization? One in which the leadership is governed by a board of directors O One in which the workforce is made up of volunteers O One that reinvests profit into the organization instead of distributing it to owners One that relies solely on private donations for the organization's financial needs do fastDiscuss the basic assumptions of CVP analysis and how can we use CVP analysis in making decisions in a not-for-profit organization, as well as a for-profit organization?