Private, Not-for-Profit (NFP) Entities.

Select from this list of terms to answer the following questions. A term may be used more than once or not at all.

Fair value

Net assets without donor restrictions

GASB

FASB

Statement of Revenues, Expenditures, and Changes in Fund Balance

Lower of cost or market

Accrual method

Statement of Activities

General fund, restricted fund, endowment fund

Modified accrual method

Net assets with donor restrictions

Endowment fund

Unrestricted, temporarily restricted, permanently restricted

Depreciation

Works of art and other historical treasures

General fund

Cost

Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all.

"Responsible for establishing accounting standards for private NFP entities" describes which term listed above?

"Classification of an endowment contribution" describes which term listed above?

"Reported as an expenditure of the fund using plant and equipment" describes which term listed above?

"Financial statement of a private NFP entity" describes which term listed above?

"Tangible fixed assets not depreciated by a private college or university" describes which term listed above?

"Basis for measuring investments in financial statements" describes which term listed above?

"Classification of investment income from endowment investments if there are no donor restrictions as to income" describes which term listed above?

"Classification of contributions restricted by purpose" describes which term listed above?

"Basis for measuring expenditures for contributed services requiring special skills" describes which term listed above?

"Basis for measuring contributions" describes which term listed above?

"Net asset classifications per ASC 958-205" describes which term listed above?

"Basis of accounting for private NFPs" describes which term listed above?