1.The intermediate performance indicator reported on the statement of activities of health care organizations, as specified byASC Topic 954, excludes

A. Defined pension benefits earned by current employees.

B. Contributions of long-lived assets.

C. Impairment losses on intangible assets.

D. Unrealized gains and losses on investments in equity securities.

2.At the beginning of 2020, a donor makes a documented promise to contribute $10,000 per year to a private NFP organization at the end of each of the years 2020, 2021, and 2022. The donor says the contribution may be used for any purpose, and the appropriate discount rate is 4%. The organization estimates that collections will be $9,000 per year for each of the three years.

When the promise is recorded at the beginning of 2020, contributions revenue increases net assets with donor restrictions by:

A. $27,026

B. $27,000

C. $30,000

D.$24,976

3.Make-A-Wish Foundation accepts $40,000 in donations that are donor designated to specific wish granting activities.

When the resources are spent for this purpose, the statement of activities will report:

A. Expenses of $40,000, as a decrease in net assets with donor restrictions.

B. Expenses of $40,000, as a decrease in net assets without donor restrictions.

C. Net assets released, as a $40,000 decrease in net assets with donor restrictions and a $40,000 increase in net assets without donor restrictions, and expenses of $40,000, as a decrease in net assets without donor restrictions.

D. Net assets released, as a $40,000 increase in net assets with donor restrictions and a $40,000 decrease in net assets without donor restrictions, and expenses of $40,000, as a decrease in net assets with donor restrictions.

4.Which statement istrueconcerning intermediate performance measures (subtotals measuring operating performance, for example) displayed in a private NFP organization's operating statement?

A. Intermediate performance measures, standardized by the FASB, are allowed but not required for all NFP organizations.

B. Intermediate performance measures, standardized by the FASB, are required for all NFP organizations.

C. Intermediate performance measures are not allowed; only the total change in each category of net assets is displayed.

D. Intermediate performance measures are allowed and may take any format that best communicates the organization's financial performance.

5.Functional categories of expenses for a private NFP organization are:

A. Cost of goods sold, general and administrative, and financial

B. Expenses with donor restrictions and expenses without donor restrictions

C. Operating and nonoperating

D. Programs and support