Question 11(4 points)

Agency funds are used for all of the following except:

Question 11 options:

A)	Grants, entitlements, shared revenue

B)	Pass-through grants

C)	Tax collections for itself

D)	Payroll deductions

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Question 12(4 points)

Accounting standards relevant to private not-for-profit entities include all of the following except:

Question 12 options:

A)

FASB 101

B)

FASB 116

C)

FASB 93

D)

FASB 117

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Question 13(4 points)

FASB 116 separates transaction of private not-for-profits into ________, ________, and _______ transactions.

Question 13 options:

A)	revenue, expenditure, agency

B)	exchange, non-exchange, agency

C)	services, overhead, income

D)	contribution, services, asset

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Question 14(4 points)

One of the nuances of a conditional donation to a private not-for-profit entity is that:

Question 14 options:

A)	it is not recorded by the NFP until the condition is met

B)	the value of the pledge is recorded at the donors basis

C)	Assets can not be accepted or used until the condition is met

D)	it is never tax deductible to the donor