Question: Please answer ASAP and I will upvote immediately. Answer questions below pertaining to the company listed below. Thanks The non-profit organization is College of Mount

Please answer ASAP and I will upvote immediately. Answer questions below pertaining to the company listed below. Thanks

The non-profit organization is College of Mount Saint Vincent

  1. Describe your organization. What makes it a nonprofit (or what would qualify it to be a nonprofit)?
  2. Why is it a non-profit? What are the benefits? Any disadvantages?
  3. Describe the accounting methods used.
  4. What are the benefits of the non-profit status of your organization?
  5. Who are your competitors?
  6. Does your organization generate a surplus? If so, how are the funds recorded in the financial statements? In general, what is the purpose of a surplus for a nonprofit?
  7. Is your organization leveraged? If so, describe the impact on the balance sheet and income statement. If not, assume your organization borrows $5 million. How would this impact the balance sheet and income statement?

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