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Over [174]
3 years ago
11

Which of the following statements is FALSE? A. While many private not-for-profit organizations use funds for internal purposes,

the financial statements do not report separate funds B. Examples of voluntary health and welfare organizations would include the Girl Scouts and the American Heart Association C. The financial statements of private not-for-profits are intended primarily for those who have a residual claim to the net assets of the organization D. A Statement of Functional Expenses is required for voluntary health and welfare organizations E. Accounting practices of private sector not-for-profit organizations are influenced by two AICPA audit and accounting guides: Not-for-Profit Organizations and Health Care Organizations
Business
1 answer:
ivanzaharov [21]3 years ago
4 0

Answer:

E is the correct answer

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Stocks should be your answer
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3 years ago
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Which of the following should be accounted for in an enterprise fund?Light poles to be paid for in installments by affected prop
Gennadij [26K]

Answer:

correct option is C. $1,250,000

Explanation:

given data

Light poles = $350,000

cost reimbursement = $65,000

electric power to residents = 1,250,000

to find out

which statement accounted for in an enterprise fund

solution

statement accounted for in an enterprise fund is here

    particular                                                amount

Equipment used for supplying                  $1250000

electric power to residents

enterprise fund                                          $1250000

so correct option is C. $1,250,000

8 0
3 years ago
The cost of goods for Mandy Manufacturing Company flow through an assembly and a finishing department before being transferred t
laila [671]

Answer:

Option (D) is correct.

Explanation:

Given that,

Beginning work in process = $4,000

Ending work in process in finishing department = $6,000

Cost transferred = $47,000

Direct material = $15,000

Direct labor  = $46,000

Overhead  = $22,000

Cost incurred in finishing department:

= Beginning work in process + Cost transferred + Direct material + Direct labor + Overhead

= $4,000 + $47,000 + $15,000 + $46,000 + $22,000

= $134,000

Cost of goods transferred to the Finished Goods Inventory account:

= Cost incurred in finishing - Ending work in process

= $134,000 - $6,000

= $128,000

5 0
3 years ago
A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is levied on the selle
Katena32 [7]

Answer:

$523,800

Explanation:

Given parameters:

Cost price by buyer = $525000

Selling price by seller = $485000

Sales tax = 8%

Unknown:

The lowest selling price by the seller = ?

Solution:

To solve this business problem, we must understand that the price the seller would be will to part with will be his selling price and the percentage of sales tax incurred in the procurement.

This will be the minimum and least profitable estimated amount the seller is willing to sell at.

   Lowest selling price = selling price by seller + amount of sales tax incurred

Sales tax amount = selling price x sales tax percentage

                             = $485000 x \frac{8}{100}

                              = $38800

Lowest selling price = $485000 + $38800 = $523,800

4 0
3 years ago
As the volume of financing increases, the costs of the various types of financing will ________, ________ the firm's weighted av
charle [14.2K]
<span>As the volume of financing increases, the costs of the various types of financing will increase, raising the firms weighted average cost capital. This happens because the firm will have to pay more in fees for their financing an that will be passed on to the firms weighted average cost capital.</span>
7 0
3 years ago
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