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2 years ago

The basis of accounting used by not-for-profit organizations in their external financial reports is

Business

1 answer:

beks73 [17]2 years ago

3 0

Answer:

The correct answer here is A) industry specific basis of accounting.

Explanation:

The term nonprofit accounting means a unique way of recording and reporting the business transactions which are taken up by the nonprofit organizations. There are various basis of accounting, which a non for profit organization can use like cash basis ( where income and expenses are recognized when they occurred , and this type of accounting is more suitable for smaller nonprofits organizations ) , accrual basis ( where income and expenses are recorded when they are earned not received ) , modified cash basis ( is a mixture of both cash and accrual basis of accounting ). But when a not for profit organization is preparing their external financial report, the basis of accounting would be industry specific.

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HEEELLLLPPPP!!!!!!!!!!!!!!!!!!!!!

lys-0071 [83]

Answer:

W-2, 1099, 1040, I-9, W-4

Explanation:

5 0

2 years ago

A company identified the following estimated data in its two production departments. During the current month, Assembly used 200

Firdavs [7]

Answer:

$9,000

Explanation:

1.Finishing’s departmental rate based on MH

= Finishing’s costs/Finishing’s machine hours

= $90,000/2,000 = $45 per MH

2.Cost assigned to Finishing based on MH

= Finishing’s departmental rate based on MH * Finishing’s currently used machine hours

= $45 per MH * 200 MH = $9,000

Therefore If the company uses a departmental overhead rate based on machine hours, $9,000 overhead cost will be assigned to Finishing this month

7 0

2 years ago

Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one speci

Sedbober [7]

Answer:

The correct answer is:

executive salaries, utilities and insurance (C.)

Explanation:

Indirect costs are costs that are not directly attributable objectively to a good, project, facility or service. Indirect costs are either fixed or variable. Fixed indirect costs are costs that do not change as the units/volumes of production change, while variable indirect costs are costs that change with change in production units. Indirect cost can also be classified as either recurring or fixed. Recurring indirect costs are those that are repeated in nature, example is salaries of laborers, while fixed indirect can be cost of transportation. In this example, executive salaries, utilities and insurance are not directly attributable to a specific project at hand; the executives do not partake in the project hands-on, insurance and utilities such as electricity rent are not project-specific and it is financially infeasible to do so.

On the other hand, direct costs are costs that are directly attributable to the object, and it is financially feasible to do so, hence travel cost, labor, consultant and subcontractors costs, and material costs are all directly linked to the project (object).

3 0

3 years ago

True or false: Control involves developing goals and preparing various budgets to achieve those goals. True false question. True

kramer

True or false: Control involves developing goals and preparing various budgets to achieve those goals. True false question. <u>False</u>

A goal is a vision for the future or a desired outcome that an individual or group of individuals commits to envisioning, planning, and achieving. By creating deadlines, people attempt to accomplish goals within a certain amount of time.

A goal is akin to a purpose or aim, the anticipated outcome that directs behavior, or an end, which is a thing, whether it be a tangible thing or an abstract thing, that has inherent value.

To learn more about goal from the given:

brainly.com/question/1512442\

#SPJ4

8 0

1 year ago

What’s the answer .......

ohaa [14]

If i am correct it is A. Yep, I googled it

4 0

3 years ago