Choose one of the following to answer:   Sometimes not for profits will attempt to classify fund-raising expenses as program expenses by making the activities look educational in nature or promoting the mission of the organization. For such expenses to be reported as program expenses, what criteria must they meet?   What is the trigger for a Single Audit? Why does an entity need to have a Single Audit? 

Which button should you click to start a test or resume a test using Proctorio?  

What is the first thing you should do if you are prompted to enter the exam password?

When using Proctorio, if you receive a warning message about a busy computer, low RAM, or a slow internet connection you should [answer1]

A donor pledged $500,000 to a not-for-profit hospital in 2025 to conduct medical research, conditional on the hospital raising $500,000 from other donors within two years. The donor contributed a $50,000 cash deposit as a good faith mark in 2026. The other donors met the condition in 2027. In which year would the revenue be recognized? What journal entry would be used to record the $50,000?

According to FASB standards, how are not-for-profit organizations distinguished from a business? Discuss at least three aspects for full credit.

St. Mary’s Hospital, a private not-for-profit, began the year 2025 with the following trial balance:  Beginning Balances Account Debits Credits Cash 715,000   Patient Accounts Receivable 575,000   Allowance for Contractual Adjustments   140,000 Property, Plant, and Equipment – Net of Depreciation 800,000   Accounts Payable   450,000 Net Assets without Donor Restrictions   1,000,000 Net Assets with Donor Restrictions   500,000 Total 2,090,000 2,090,000  Transactions for 2020 are as follows: Collected $360,000 of the Patient Accounts Receivable that was outstanding at 12-31-2019. Actual contractual adjustments on these receivables totaled $149,000. The Hospital billed patients $2,230,000 for services rendered. Of this amount, 6% is expected to be uncollectible due to implicit price concessions. Contractual adjustments with insurance companies are expected to total $789,000. (Hint: use an allowance account to reduce accounts receivable for estimated contractual adjustments). The Hospital collected $1,235,000 of the amount billed to patients Charity care in the amount of $90,000 (at standard charges) was performed for patients who were unable to pay. The Hospital received $800,000 in debt securities to establish a permanent endowment. Interest income from the endowment is unrestricted. Other revenues collected in cash were: gift shop $18,000 and cafeteria $35,000. Record the journal entries. If no entry is required, clearly state that fact or no credit will be awarded.

After the House and Senate pass the same bill, it is sent to the President, where the President has three options.  List two (and only two) of these three options and describe what happens (or can happen) in each case.  

There have been 4 amendments to the Constitution that protect the right of people to vote.  Provide the specific categories from these 4 amendments, based on which you cannot be denied the right to vote.  

List two Constitutional powers of the Executive branch and then provide a way in which the Legislative branch (or just the Senate) can check that power.