Questions from Financial Accounting


Q: What are the major differences in financial reporting for a public university

What are the major differences in financial reporting for a public university and a private university?

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Q: How does a hospital account for donated services, equipment, and

How does a hospital account for donated services, equipment, and medical supplies?

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Q: A donor contributes $15,000 to a hospital to use

A donor contributes $15,000 to a hospital to use for operating costs in the intensive care unit. How does it account for this contribution? How does it account for the expenditure of the $15,000?...

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Q: Which of the following would be included in the unrestricted funds of

Which of the following would be included in the unrestricted funds of a not-for-profit hospital? a. Permanent endowments. b. Term endowments. c. Board-designated funds originating fr...

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Q: Where does a VHWO record fixed assets? Does it record depreciation

Where does a VHWO record fixed assets? Does it record depreciation?

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Q: An individual contributes $10,000 to a VHWO for restricted

An individual contributes $10,000 to a VHWO for restricted use in a public health education service. How does the VHWO account for this contribution and for the $10,000 expenditure?

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Q: How does a VHWO account for pledges from donors?

How does a VHWO account for pledges from donors?

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Q: Why do VHWOs not report all pledges received in the period in

Why do VHWOs not report all pledges received in the period in the unrestricted assets section of the statement of activities? Identify what is not included.

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Q: How do VHWOs account for donated services?

How do VHWOs account for donated services?

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Q: Describe the statement of functional expenses. What organizations must prepare it

Describe the statement of functional expenses. What organizations must prepare it?

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