Reference no: EM132947118
Questions -
Q1. An NPO received relief goods to be distributed to flood victims in a specified are The NPO has no discretion in determining the parties to be benefited it must deliver the resources to the specified beneficiaries ( i.e., flood victims ) . The relief goods have a fair value of P420,000. How much contributions revenue shall be recognized on the good received?
a. P420000
b. 380000
c. 400000
d. None
Q2. When a nonprofit organization combines fund -raising efforts with educational materials or program services, the total combined costs incurred are Reported as program services expenses.
Allocated between fund -raising and program services expenses using an appropriate allocation basis.
Reported as fund -raising costs
Reported as management and general expenses
An NPO received relief goods to be distributed to flood victims in a specified area. The NPO has no discretion in determining the parties to be benefited it must deliver the resources to the specified beneficiaries, flood victims). The relief goods have a fair value of P100,000. How much contributions revenue shall be recognized on the good received?
a. P120,000
b. None
c. P100.000
d. P80,000
Q3. ABC Hospital, an NPO had the following receipts during the year: Net patient revenues P3,200,000 220,000 Premium revenue Sales from canteen 330,000 Investment Income 48,000 Contributions to be used in renovating the Hospital 452.000 How much is reported as total revenue in the revenues section of the statement of operations?
a. P3,530,000
b. 3248000
c. P3.420,000
d. P3,798,000
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