nongovernment non-for-profit organizations that which to follow gaap in preparation of their financial statements should follow?

erences Mailings ReviewView apter 16 - Quiz - Mark your answers and submit to the message board in Blackboard Nongovenment not-for profit organizations that wish to follow generally accepted accounting principles in the preparation of their financial statements should follow A. FASB standards. B. GASB standards C. Nonprofit Accounting Standards Board (NASB) standards. D. AICPA Audit and Accounting Guide, "Not-for-Profit Entities. A nongovermment not-for-profit organization received donated services from a local volunteer. The volunteer works as a receptionist for the organization. The market value of service is $5,000. How should this activity be reported be in the statement of activities? A. Not be reported. B. Unrestricted support, $5,000. C. Restricted support, S5,000. 2. D. Both unrestricted support and program expense, $5,000. 3. Other not-for-profit organizations include A. Hospitals B. Colleges and universities. C. Religious organizations D. Voluntary health and welfare organizations erences Mailings ReviewView apter 16 - Quiz - Mark your answers and submit to the message board in Blackboard Nongovenment not-for profit organizations that wish to follow generally accepted accounting principles in the preparation of their financial statements should follow A. FASB standards. B. GASB standards C. Nonprofit Accounting Standards Board (NASB) standards. D. AICPA Audit and Accounting Guide, "Not-for-Profit Entities. A nongovermment not-for-profit organization received donated services from a local volunteer. The volunteer works as a receptionist for the organization. The market value of service is $5,000. How should this activity be reported be in the statement of activities? A. Not be reported. B. Unrestricted support, $5,000. C. Restricted support, S5,000. 2. D. Both unrestricted support and program expense, $5,000. 3. Other not-for-profit organizations include A. Hospitals B. Colleges and universities. C. Religious organizations D. Voluntary health and welfare organizations