How does the accounting industry define a not-for-profit organization and a VHWO?
What are the possible types of interfund transactions? Explain.
Do you think that a not-for-profit organization’s board can release the restrictions on money in a strike fund and use it for General operations? Does it matter if the strike fund is held by a steel workers’ union to pay benefits to its members during a strike, versus a fund used by a not-for-profit as a safety reserve in case its workers go on strike?
Donations in cash are easy to measure. What is the treatment that not-for-profit organizations use for donated goods and services?