Term
ownership
Expenses, benefit
linked
Donors
Proportional |
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Definition
How do GNPs differ from For Profit Firms?
No o_______
E______ are incurred to provide________ .
Revenues and expenses are not l____ .
D_______ can direct spending.
Benefits are not p_______ to resources provided. |
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Term
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Definition
GNP Differences
No Ownership
- No one has a claim on r______(though it may exist) |
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Term
service
fund, service
Expenses/Services |
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Definition
GNP Differences
Expenses are incurred to provide benefit.
-Govt exists to provide s______.
-Revenues are used only to f____ s______.
-E______/S________ are purpose for existence. |
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Term
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Definition
GNP Differences
Benifits are not proportional to to resources provided.
Ex. Citizen pays ad valorem tax which is used for education but this citizen may not have children. |
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Term
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Definition
GNP Differences
Donors can direct spending
-Certain a_____ are available for certain a_______.
Ex. Donor provides scholarship money for accting students. It can't be used for another purpose. |
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Term
1. Non Profits
2. State and Local Govt
3. Federal Govt |
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Definition
Types of Organizations
1. N________-Red Cross, Bham Southern
2. _____ and _____ G____-State of Alabama, City of Tuscaloosa
3. ______ __________ |
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Term
1. Charities, gives, benefits
2.Clubs, same |
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Definition
Types of Non Profits
1. C__________-One group ____ and another group receives b______.
2. C_____-_____ group pays and receives benefits. |
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Term
1.FASB
2.GASB
3.FASAB-Federal Accting Standards Advisory Board |
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Definition
Rule Makers
1. Non-Profits-_____
2. State and Local-______
3. Federal-_______ |
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Term
1. Donors
2. Grantors
3. Regulators
4. Watchdog Agencies
5. Beneficiaries of Services |
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Definition
Fin Statement Users For Non Profits
1. D_____
2. G_______
3. R________
4. W_____ A______
5. B______ of S______ (Club members) |
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Term
| 1. Taxpayers 2. Elected Officials 3. Press 4. Beneficiaries of Services |
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Definition
| Fin Statement Users-Governments 1. T______ 2. E_____ O_______ 3. P______ 4. B______ of S______ (Students at a state college) |
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Term
Market Failure
Contract Failure
Govt Failure |
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Definition
Why Do GNP's Exist?
M______ _________
C______ _________
G_____ _______ |
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Term
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Definition
Market Failure
-Companies cannot c______ from all that b______
F___ R_____ problem Ex. security for person who won't pay but benifits anyway |
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Term
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Definition
Contract Failure
Consumer is at a d_______ in judging q_____ |
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Term
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Definition
Govt Failure
M______ rules. Ex. Parochial Schools |
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