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

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

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

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

A. Functional


B. Natural


C. Both


D. None

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

A. Functional


B. Natural


C. None


D. Both

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

A. Loan Fund


B. Annuity fund


C. Assets fund


D. Prize fund

7. Which of the following is not an restricted fund

A. Annuity fund


B. Assets fund


C. Prize fund


D. General fund

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

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

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

A. Temporarily restricted

B. Unrestricted

C. Permanently restricted

D. None