The following statements relate to nongovernmental NFPs. Match the following terms with the statements indicated below:...

 

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The following statements relate to nongovernmental NFPs. Match the following terms with the statements indicated below: Fund accounting, variance power, program services, supporting services, FASB, GASB. Each choice may be used once, more than once, or not at all. Statement 1. Activities that include management and general and fund-raising costs 2. The activities that result in goods and services being distributed to beneficiaries that fulfill the purposes of the entity. 3. A nongovernmental NFP's external reporting is regulated by standards set by this organization. 4. An acceptable method for internal purpses in a nongovernmental NFP. But not required for external reporting. 5. An agency transaction is recognized when an NFP does not have this 6. Considered to be the "overhead" costs of running an NFP. Description The following statements relate to nongovernmental NFPs. Match the following terms with the statements indicated below: Fund accounting, variance power, program services, supporting services, FASB, GASB. Each choice may be used once, more than once, or not at all. Statement 1. Activities that include management and general and fund-raising costs 2. The activities that result in goods and services being distributed to beneficiaries that fulfill the purposes of the entity. 3. A nongovernmental NFP's external reporting is regulated by standards set by this organization. 4. An acceptable method for internal purpses in a nongovernmental NFP. But not required for external reporting. 5. An agency transaction is recognized when an NFP does not have this 6. Considered to be the "overhead" costs of running an NFP. Description

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Answer 1 Supporting services Activities that include management ... View the full answer