List the 2 types of Not-for-Profit Entities and give an example of each.

Which type is the focus of the CPA Exam?

Who prescribes the accounting rules for Nongovernmental Not-for-Profits and VHWOs?

Which basis of accounting is used by nongovernmental not-for-profits and VHWOs?

Is Fund Accounting used by nongovernmental not-for-profits and VWHOs? If so, when is it appropriate to report on a fund basis?

What three categories of net assets are reported by nongovernmental not-for-profits and VHWOs?

Which user group imposes restrictions on resources?

GASB 35 applies to which nonprofits? List one of its requirements.

Nongovernmental Not-for-Profits and VHWOs report Expenses by function. List the two Functions presented.

Why is the aforementioned Expense classification required?