How do not-for-profits differ from governments in the way they account for business-type activities, such as dining

Question:

How do not-for-profits differ from governments in the way they account for business-type activities, such as dining halls, gift shops, and admission fees?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118983270

7th edition

Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith

See More Books

Question Posted: Dec 02, 2016 09:31 AM

See More Questions

Utilizing the comprehensive annual financial report (CAFR) obtained for Exercise 117, follow these instructions: a. Internal Service Funds. (1) Use of Funds. What activities of the government are...
In order to better serve their rural patients, Drs. Hao and Jun Zhang (brothers) began giving safety seminars. Especially popular were their emergency-preparedness talks given to farmers. Many people...
In order to better serve their rural patients, Drs. Dan and Jack Fleming (brothers) began giving safety seminars. Especially popular were their "emergency-preparedness" talks given to farmers. Many...
2. Two point charges are located at two comers of a triangle as shown. What is the electric potential at the right corner of the triangle? A. 21 10 V C. 4.5 x 10 V B. 3.4 x 10 V D. 6.3 x 10 V 10 em...
Alameda Tile sells products to many people remodeling their homes and thinks that they could profitably offer courses on tile installation, which might also increase the demand for their products....
The following accounts were taken from the financial statements of Giles Company. ________ Interest revenue ________ Owners capital ________ Utilities payable ________ Accumulated...
What is the primary purpose of admission-seeking questions?
OLeary Corporation manufactures special purpose portable structures (huts, mobile offices, and so on) for use at construction sites. It only builds to order (each unit is built to customer...
$400,000 for a new technology.The lender charges them 36% annually with monthly compounding.The agreement calls for no payment until the end of the first month of the 5th year with equal monthly...
The fixed asset acquisition procedures for Turner Brothers, Inc., are as follows: Supervisors in the user departments determine their fixed asset needs and submit bids or orders directly to...
In what significant way do not-for-profits account for investments differently from businesses?
In each of the following scenarios, an organization receives a contribution in kind. Prepare journal entries, as necessary, to give them accounting recognition. For each, tell why you made an entry...
Is it possible to depreciate a residential rental building when it is actually increasing in value? Why?...
The INDUSTRIA TEXTIL ZAR company, located in Madrid, has subsidiaries practically all over the world. Currently, the subsidiaries, established by countries of implementation, manage their own...
A project manager may be responsible for creating and sticking to a budget. What factors will a project manager take into account? What are the most critical elements of a project communications plan?
You have taken on a seven-week contract with the management consulting firm BLUEtin Consulting. This contract is covering one project cycle and all learning activities and assessment will be tied to...
The project managers leadership has been identified as one of the most important critical success factors (CSFs) in project management? What do you think is the most appropriate leadership style to...
Paul is a 12-year-old male diabetic. He maintains his personal digital assistant (PDA), hand-held device, that interfaces with his glucometer and provides information based on inputted data from him...
Why do antibiotics kill bacteria but leave viruses unharmed?
Dr. Chan obtained a $15,000 demand loan at prime plus 1.5% on September 13 from the Bank of Montreal to purchase a new dental X-ray machine. Fixed payments of $700 will be deducted from the dentists...
Assume that Nolanvilles scal year ends on December 31. 1. Nolanvilles payroll for one of its departments is $15,000 per week. It pays its employees on the Thursday of the week following that in which...
Assume that Nolanvilles scal year ends on December 31. 1. Nolanvilles payroll for one of its departments is $15,000 per week. It pays its employees on the Thursday of the week following that in which...
The Eaton School District engaged in the following transactions during its scal year ending August 31, 2015. It established a purchasing department, which would be accounted for in a new internal...
A shop has implemented a new coupon discount program for its customers. Employees could be scanning coupons but charging the customers full price and then pocketing the difference.) explain,construe...
In 2014, the cost of the most frequently bough consumer goods was 2.364 times higher than in 1982 (the CPI in 2014 was 236.4), and in 2015, the cost of this basket of goods was 2.378 times higher...
Your friend is a hedge fund manager. He tells you that he has earned 6% returns on average above the S&P 500 return over the past five years, so he doesnt believe in efficient market. Do you agree...

How do not-for-profits differ from governments in the way they account for business-type activities, such as dining

Question:

Step by Step Answer:

To conclude we can say that governments account for their busines...View the full answer

Government and Not for Profit Accounting Concepts and Practices

Students also viewed these Accounting questions