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6. The basic financial statements for all NNOs include a: A) Balance sheet, Statement of activities, and Statement of cash flows B) Balance sheet and

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6. The basic financial statements for all NNOs include a: A) Balance sheet, Statement of activities, and Statement of cash flows B) Balance sheet and Statement of activities C) Balance sheet and Statement of cash flows D) Statement of activities and Statement of cash flows 7. Which one of the following statements is NOT required for NNOs? A) B) C) D) statement of financial position statement of cash flows statement of activities statement of changes in net assets 8. The activities of a central computer facility should be accounted for in the: A) General Fund. B) Internal Service Fund. C) Capital Projects Fund. D) Enterprise Fund. 9. Board designated funds should be accounted for as: A) unrestricted funds. B) restricted funds. C) specific purpose funds. D) none of these. 10. Special entities are not-for-profit organizations that are A) B) C) D) privately owned. either government owned or privately owned government owned publicly owned. 11. Internal Service Fund billings to government departments for services rendered is an example of interfund A) transfers B) reimbursements. C) services provided and used. D) loans

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