QUESTION 5 1 points Which of the following are required by FASB to be presented

Question

QUESTION 5 1 points Which of the following are required by FASB to be presented in the financial statements of all nonprofit organizations? OA budgetary comparison schedule OB. list of all donors giving over $5000 OC. Statement of Cash Flows OD nformation in a single location about functional expenses OE percent of total expenses spent on executive compensation OF. Statement of Activities OG Statement of Financial Position (or Balance Sheet) OH.percent of investment revenue included in total revenue QUESTION 6 0.5 points If a nonprofit reports net assets with donor restrictions, it is likely that OA the restrictions are temporary OB, the restrictions have been placed by the donors or the Board of Directors C. the restrictions have been placed by the donors O the restrictions have been placed by the donors or through a contractual arrangement

Explanation / Answer

Ans: F) Statement of acticities

Reason: it shows the utilisation of funds received by the non profit organisation towards attainment of its objective which is compulsory document as its authenticaates the genuienity of the organisation.

Ans 6: Option C
Reason: when the buyer pays fund for specific purpose with an instruction to how to use it . It will be reported as net asset with donor restrictions

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