Is the information on the balance sheet, activity statement, and cash flow statement independent of one another or connected? 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 whether we are talking about a strike fund 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?
A board sets aside resources to earn investment income to support general operations. Would the resources set aside be recorded in a fund with donor restrictions or a fund without donor restrictions? Would the earnings be recorded in a fund with donor restrictions or a fund without donor restrictions?
How does one decide what entities to include in the government’s BFS?