Can an organization use any month as its fiscal year end? Explain.

Due By (Pacific Time) 10/09/2015 10:52 pm
  1. True or false? Not-for-profit health care organizations segregate their net assets between paid-in capital and retained earnings, with paid-in capital representing donor contributions for capital asset acquisition, and retained earnings representing accumulated operating profits and losses. Explain your answer.

 

 

  1. Can an organization use any month as its fiscal year end? Explain.

 

Fill-in-the-blank Questions

  1. Use the following terms to fill in the correct answers.
  1. Assets
  2. Liabilities
  3. Equity/Net Assets
  4. Revenues
  5. Expenses
  6. Surplus or Deficit/Change in Net Assets

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