which of the following is not a net asset category reported by course

Which of the following is not a category of program revenue reported on the statement of activities at the government-wide level?

Which of the following is not a category of program revenue reported on the statement of activities at the government-wide level? General program revenues.

In which classification of net assets are expenses reported?

An expense is reported in the unrestricted column of the statement of activities, unrestricted net assets are increased, and temporarily restricted net assets are decreased. 32.

Which of the following are the net asset classes required by the FASB for not-for-profit organizations?

Which of the following are the net asset classes required by the FASB for private not-for-profit organizations? Net assets without donor restrictions and net assets with donor restrictions. The net asset classes required by the FASB are unrestricted, temporarily restricted and permanently restricted.

Which is a class of net assets for not-for-profit entities?

Presently nonprofits use three net asset classifications: Unrestricted. Temporarily restricted. Permanently restricted.

What are the 3 types of net asset restrictions?

Businesses classify net assets in three categories: unrestricted, temporarily restricted and permanently restricted.

What is net asset class?

Key Takeaways. Net asset value, or NAV, is equal to a fund's or company's total assets less its liabilities. NAV, is commonly used as a per-share value calculated for a mutual fund, ETF, or closed-end fund.

What are the net assets of a company?

Net assets are the value of a company's assets minus its liabilities.

Which of the following is not classified as a support activity reported by not-for-profit entities?

Which of the following is not classified as a support activity reported by not-for-profit entities? Program expenses. When a government transfers the rights and obligations of an asset to another legally separate governmental or private sector entity, the transaction is referred to as: A service concession arrangement.

How does the FASB require not-for-profit organizations to report expenses?

The FASB Codification requires the following financial statements for all not-for-profit organizations: A. Statement of financial position, statement of activities, statement of cash flows, and statement of functional expenses.

Which of the following items is not a specific account in a company's accounting records?

Explanation: Income is not a specific account within the chart of accounts of a general ledger but instead is a section...

What is the opposite of net assets?

Deficit net worth is a situation in which net liabilities are higher than net assets. Also known as negative net worth, deficit net worth can occur for a variety of reasons, but typically it arises when current or future asset values erode unexpectedly.

What are liabilities and net assets?

Net assets in nonprofit accounting are what your organization has, what is owed, what is invested and what is deposited. Liabilities are what your organization owes to others or holds on behalf of others. The calculation of retained earnings and net assets is essentially the same.