Not-for-profits account for revenues and expenses using the modified accrual basis of accounting.
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Q39: The following information was taken from
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Q41: The FASB ASC is the primary authority
Q42: Unrestricted net assets are the portion of
Q43: Colleges and universities maintain accounts and reports
Q45: Not-for-profits organizations report expenses by functional classification:
Q46: GAAP defines a contribution as unconditional transfer
Q47: Not-for-profit health care organizations present a statement
Q48: Nongovernmental not-for-profit entities follow FASB standards.
Q49: Contractual adjustments are discounts arranged with third-party
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