41.FASB statement 116 requires contributions to be recorded as revenue when the contributed money is actually received.
42.FASB statement 116 requires conditional promises to give to be recorded as revenue when the condition is met.
43.FASB statement 116 requires unconditional pledges of support to be recorded as revenue when the contribution is promised.
44.Present and potential donors are the primary users of private not-for-profit
45.Private not-for-profit organizations should have little to no profit.
46.With respect to the Statement of Cash Flows for a private not-for-profit organization, donor restricted cash that must be used for long term purposes is classified as cash flows from financing activities.
47.When preparing the Statement of Cash Flows for a private not-for-profit organization, the direct method or indirect method may be used.
48.The Statement of Cash Flows for a private not-for-profit organization has four different classifications of cash flows.
49.With respect to the Statement of Cash Flows for a private not-for-profit organization, the purchase of equipment would be considered an investing activity.
50.The Statement of Cash Flows for a private not-for-profit organization has three different classifications of cash flows.