F6 Flashcards
1
Q
Functional
A
expenses categories costs by major classes of program and support services
2
Q
natural
A
descriptions: salaries, rent, utilities, interest expense, supplies
3
Q
internal board-designated funds are classified as
A
net assets without donor restrictions
4
Q
statement of activities
A
reports revenues and expenses, gains and losses, reclassification
5
Q
3 required elements of statement of activities
A
- change in total net assets
- change in net assets without donor restrictions
- change in net assets with donor restrictions
6
Q
A
