Question 49 (1 point) Resources given to an organization are considered to be contributions if they meet which of the following criteria? voluntary Ononreciprocal Ounconditional all of the above Question 52 (1 point) In order to maintain its' status as a 501(c)(3) tax exempt organization, a charity: must not engage in political activities must have a defined, limited purpose must not have the authority to engage in activities other than the exempt purpose all of the above are requirements to maintain tax-exempt status Question 53 (1 point) On a statement of functional expenses for a not-for-profit organization, which of the following would be considered a FUNCTIONAL expense classification? Operational Expenses Fund-Raising Costs Salaries & Benefits Gain (Loss) on the sale of Assets Question 55 (1 point) Financial reporting for public colleges and universities most closely resemble: O business accounting, using FASB standards and the accrual basis of accounting enterprise fund accounting, using GASB standards and the accrual basis of accounting accounting for not-for-profit organizations, using FASB standards and the cash basis of accounting O governmental fund accounting, using GASB standards and the modified accrual basis of accounting