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53. FASB Suatement 124, Accounting for Certain Invesments of Nor- for-Pregniud A) Requires that investments in equity securities be carried B) Requires that investments accounted for under the equity value at the end of the accounting period. C) Requires that investments in debst securities be carried at fair value. D) Requires that investments in consolidated subsidiaries be reported as permanently restricted are recognized as revenue for a private not-for-profit when the service: skills, is provided by someone possessing those skills, and 54. Contributed services A) Is related to administration and fund raisi B) Requires specialized ppicaily would be purchased if not provided by donation. the service to be recorded as revenue services are not recorded as revenue C) A and B are both required for D) None of the above, contributed 5S. Which three categories of net position are reported by governmental hospitals? A) Restricted, committed, and unassigned BNet investment in capital assets, restricted, and unrestricted emporarily restricted, permanently restricted, and unrestricted 50. A benefactor promises to donate $25,000 to his church toward the purchase of a new piano if the church is able to raise matching funds of $25,000 from other contributors. At what point D) Permanently restricted, current, and noncurrent should the church record revenue? A) When the matching funds are raised. B) When the benefactor makes his pledge, as long as collection is reasonably assured. B) D) When the piano is purchased. When the benefactor pays the S25,000 to the church. 57. What financial ratio is most commonly used to evaluate charitable organizations? A) Current assets/current liabilities, B) Program expenses/total expenses. C) Increase in net assets/total assets. D) Total expenses/total revenues. 58. How do not-for-profit hospitals calculate "net patient service revenue," on their operating statements? A) Gross billings at established rates; minus contractual adjustments, charity care, and similar items that the hospital does not expect to collect B) Gross billings at established rates; minus contractual adjustments, charity care, and other items, such as bad debts expense C) Gross billings at established rates; minus any amounts that the hospital does not expect to collect; plus revenue from capitation premiums D) Gross billings at established rates; revenue from capitation premiums; and any other revenue directly attributable to patient services such as special charges for Tv

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