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1. What are the distinguishing characteristics between a public charity and a private foundation? 2....

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Accounting

1. What are the distinguishing characteristics between a public charity and a private foundation?

2. What is a public support test and how does it relate to public charities and private foundations?

3. Please explain the difference between program services expenses and supporting services expenses.

4. Why is it important that not-for-profit organizations report expenses for program services separately from those for supporting services?

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