b) Cash basis of accouesinu d) Acerual basis of acceuing 35, The Statement of Cash Flows for a not-for profia shoold be divided int following categories of uash lows? a) Operating activities, investing activities copital& related capitv capital activities b) Operating astiv ties, capital activities investing activities ) Operating activies, ancing activities, capital netis wies d) Operating activities, financing activities, nvesting activities 36. Revenues of a not-for-protit organization should be reported s a) Increases in one of the three categories of net assets b) Increases in unrestricted net assets c) Increases in temporarily restricted net assets d) Increases in permanently restricted net ussets 37. The National Association for the Preservation of Wildlife roceived $10,000 from a to support the overall objective of the organization. This amount will be benelactus rocognized as reven a) In the period received b) In the period spent c) Never, because it is not earned. d) In the period it becomes susceptible to accrual 38. A not-for-profit Art Museum that has elected not to capitalize its art collection receives donation of a rare piece of Indian art. The donor paid $8,000 for the piece several years agp Today the piece has an estimated fair value of $50,000. What entry should the Art Museum mak upon receipt of this donation? a) Debit Collection items $50,000; Credit Donated revenue $50,000 b) Debit Collection items $8,000; Credit Donated revenue $8,000 Nc) Debit Collection items $50,000; Credit Unrestricted net assets $50,000 d) No entry required