Do you think that a not-for-profit organization’s board can release the restrictions on money in a strike fund and use it for general operations? Does it matter whether we are talking about a strike fund held by a steel workers’ union to pay benefits to its members during a strike, versus a fund used by a not- for- profit as a safety reserve in case its workers go on strike?
Answer to relevant QuestionsIs an activity statement the same as an income statement? Donations in cash are easy to measure. What is the treatment that not-for-profit organizations use for donated goods and services? What are the fund categories used by governments? Discuss. Describe the contents of the MD& A. Why are financial statements accompanied by notes?
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