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The board of directors for a nongovernmental not-for-profit organization decided to designate $20,000 each year for the next three years to fund a special research project it was planning to conduct at the end of the three-year period. How would these board designated resources be reported on the statement of financial position? Muttiple Choice Nef assets with donor restrictions: Net assets without donor restrictions. Internal payable. The resources would not be reported on the statement of financial position. Baisam City's library board is appointed by the city council, which has agreed to subsidize the operating costs of the library at a material amount to be determined each year, In addition, the city is paying debt service on general obligotion bonds issued to construct the ibrary. Based on generally accepted accounting principies (GAAP) criteria for defining the reporting entity: Muitipie Choice The library is a component unit. The library is a special purpose government. The library is a joint venture. The library is a jointly governed organization. Which of the following statements or schedules is most likely to be prepared by a government as an interim financial report? Multiple Choice A government-wide statement of activities. A governmental funds balance sheet. A schedule of budgeted and actual expenditures. A schedule of cash flows for governmental funds. On the statement of revenues, expenditures, and changes in fund balance for governmental funds, how are capital outlays reported? Multiple Choice As a separate line item in the expenditures section of the statement. Capital outlays are allocated to the functional areas, much like depreciation. As a separate line item in the other financing sources (uses) section of the statement. Below net change in fund balances, but before beginning fund balance

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