1.What is the difference between a balance sheet of a nonprofit organization and a for-profit business?

2. What is the statement of financial position?

3. What is the statement of activities?

4. What is the difference between a balance sheet of a nonprofit organization and a for-profit business?

5. What does it mean to report expenses by function?

6.What is the meaning of net assets?

7. Where can I learn about the accounting terms used in not-for-profit organizations?

answer the 7 questions with 200 words for each