Author Question: The National Kidney Foundation, a voluntary health and welfare organization, is required by GAAP to ... (Read 51 times)

hubes95 · **on:** Jul 5, 2018

The National Kidney Foundation, a voluntary health and welfare organization, is required by GAAP to present an additional operating statementa statement of functional expenses. What will this statement present?

a. All expenses by function
b. All expenses by function and then by natural or object classification
c. All expenses by function then by funding source, including unrestricted and temporarily restricted.
d. All expenses by natural or object classification

Question 2

The ___________________ _ is a method of accounting that combines aspects of the cash and accrual methods. It uses the cash basis for recording revenues and most expenses. Exceptions are made when cash is paid for assets with useful lives greater than one accounting period.
Fill in the blank(s) with correct word