Investments, Endowments, and UPMIFA

Question 1

Initial recognition of investments recorded at _____________

Answer 1

fair value.

Question 2

Unrealized gains and losses reported in which financial statement?

Answer 2

Statement of Activities

Question 3

UPMIFA

Answer 3

Uniform Prudent Management of Institutional Funds Act

Question 4

Changes in fair value of investments should be recorded as increases/decreases to _______________

Answer 4

Unrestricted Net Assets

Question 5

Depreciation i is reported in the ____________ column of the Statement of Activities.

Answer 5

unrestricted column

Question 6

Purpose

Answer 6

Calls for specific action by the audience that will help accomplish the entity’s mission

Question 7

Audience

Answer 7

Materials or activities selected principally on its need for the program or for its ability to advance program goals in ways other than by financial support

Question 8

Content

Answer 8

Materials or activities call for specific actions that will help accomplish the entity’s mission beyond providing financial support.