26. A donor contributes a check for $1,000 to the SUNY Fund, a NFP. The donor did not stipulate what the contribution could be used for. The donation would: A. Be recorded as a pledge. B. Increase net assets without donor restrictions.

C. Be recorded as exchange revenue. D. Increase net assets with donor restrictions.

27. All not-for-profits are required to report functional expenses in either a separate statement or in disclosure notes. Functional expenses: A. Report on the net income of each program and the related direct and indirect expenses. B. Report on program expenses and supporting expenses.

C. Report on the natural expenses (object-of-expense), as well as program and support functions expenses. D. Report on the cash flows of each program and that of supporting the programs.

29. For a not-for-profit to exist, there has to be a(n): A. Donative mission. B. Inability to generate a profit. C. Taxpaying ability.

D. Objective to serve the government.

30. The expenses of a non-governmental NFP: A. Reduce net assets with donor restrictions. B. Include only program expenses. C. Reduce net assets without donor restrictions. D. None of the above.