FASB's objectives for reporting for not-for-profit organizations include all of the following EXCEPT: Assess management's stewardship and performance Make resource allocation decisions Assess the services provided and the entity's ability to provide them Assess the entity's ability to raise funds and its' effectiveness in fundraising Question 5 (2 points) FASB requires not-for-profits to provide information on expenses broken down by both functional and natural categories. Which of the following would be considered a functional expense category? Net assets released from restriction Question 5 (2 points) FASB requires not-for-profits to provide information on expenses broken down by both functional and natural categories. Which of the following would be considered a functional expense category? Net assets released from restriction Salaries and benefits O Program Services expenses Depreciation Question 6 (2 points) Assets that are designated for use by the board of directors of a not-for-profit should be classified as: Net assets released from donor restrictions Assets that are designated for use by the board of directors of a not-for-profit should be classified as: Net assets released from donor restrictions Net assets without donor restrictions Net assets with donor restrictions Internally restricted net assets Question 7 (2 points) An increase in net assets arising from peripheral transactions of the organization, such as investment earnings or income from the sale of assets, would be classified as: Gifts-in-kind