IDENTIFICATION

Write your answers to the following Identification questions in CAPITAL Letters. Spell out all words completely.
If the question is asking for activities, include the word activities. If the question is asking for funds, include the
word funds. 2 points per correct answer
It is a duly registered association of persons with a common bond of interest, who
have voluntarily joined together to achieve a lawful common social or economic end,
making equitable to contribution to the capital required and accepting a fair share of
the risks and benefits of the undertaking in accordance with universally accepted
cooperative principle * COOPERATIVE
2 points
Your answer
This is organized for the primary purpose of providing a wide range of financial
services to cooperatives and their members * COOPERATIVE BANK
2 points
Your answer
This fund is formed when cash or other properties are transferred to the institution
under conditions that provide that only the income produced by such resources can be
used for the benefit of the institution. * ENDOWMENT FUNDs
2 points
Your answer
The two kinds of net assets commonly accounted for by professional organizations
(1) * UNRESTRICTED NET ASSETS
2 points
Your answer
These are two (2) plant fund balances that balance that plant funds of not for profit
hospitals (2) * RESERVE FOR PLANT IMPROVEMENT AND EXPANSION
2 points
Your answer
A type of cooperative which engages in medical and dental care, hospitalization,
transportation, insurance, housing, labor, electric light and power, communication,
professional and other services * SERVICE COOPERATIVE
2 points
Your answer
These are two (2) plant fund balances that balance the plant of not for profit hospitals
(1) * INVESTMENT IN PLANT
2 points
Your answer
This grouping of plant funds consist of the individual property items that compose the
educational plant. This grouping also carries any long-term indebtedness relating to
plant acquisitions * INVESTMENT IN PLANT
2 points
Your answer
The two kinds of net assets commonly accounted for by professional organizations
(2) * RESTRICTED NET ASSETS
2 points
Your answer
This is where resources received by an educational institution which belong to others
are held such as student body fees * AGENCY FUNDS
2 points
Your answer
A cooperative which combines two(2) or more of the business activities of this different
types of cooperatives * MULTI-PURPOSE COOPERATIVE
2 points
Your answer
This fund is composed of current resources that are to be employed in meeting
obligations arising from the general operations of the educational institution. *
CURRENT FUNDS
2 points
Your answer
These services of educational institutions include the operation of residence halls,
dining rooms, college unions and bookstores, health centers, and athletic and cultural
programs * AUXILIARY ACTIVITIES
2 points
Your answer
This fund is form when cash or other properties are transferred to the institution
subject to the requirement that specified payments by made to a designated
beneficiary during this lifetime * ANNUITY FUNDS
2 points
Your answer
This grouping of plant funds consist of cash, securities, receivables and other assets
that are to be used for the acquisition of new plant of the replacement of existing
plant * UNEXPENDED PLANT FUNDS
2 points
Your answer
These funds of hospitals are composed of current resources that, while available for
current purposes, are subject to certain limitations in their use * TEMPORARY FUNDS
2 points
Your answer
This refers to long-term investment in other cooperatives in the form of stock and
bonds which should be duty authorized and approved by the general assembly *
INVESTMENT IN COOPERATIVE
2 points
Your answer
These activities include staffing and promotion, registration and enrollment, operation
of the business office, and operation and maintenance of the educational plant *
ADMINISTRATIVE ACTIVITIES
2 points
Your answer
This fund of the cooperative shall be used for the stability of the cooperative and to
meet net losses in operations * RESERVE FUNDS
2 points
Your answer
These activities of educational institutions include both resident and extension
instruction, public services, organized research and the operation of libraries *
INSTRUCTIONAL ACTIVITIES

TRUE OR FALSE
Choose the letter that corresponds to your answer. (2 points for every correct answer)
Quasi-endowment fund is is established for assets contributed to a non profit
organizations with the stipulations that the organization shall pay specified fixed
amount periodically to a designated beneficiary for a specified period of time *
2 points
True
False
Information in the Statement of Financial Positions help assess an organization's
service efforts and its ability to continue to provide services*
2 points
True
False
Student fees are reported in current restricted funds while grants that can be spent
only for specific purposes such as scholarships or research are reported in the
unrestricted current funds *
2 points
True
False
Information in the statement of Activities helps donors and creditors evaluate the
organization's performance during a period *
2 points
True
False
Special fund includes all the assets of a nonprofit organizations that are available for
use as authorized by the governing board and are not restricted for specific purposes *
2 points
True
False
A current unrestricted fund consists of resources that can be applied to current
purposes without restriction while restricted current fund consists of resources that
while available for current purposes are subject to certain limitations in their
applications *
2 points
True
False
Resources that are specially provided for the retirement of long-term debt are
recorded by debits to appropriate asset accounts and credits to Retirement of
indebtedness funds balance *
2 points
True
False
Acquisitions of educational plant items are recorded by debits to appropriate asset
accounts and credits to unexpected plant funds that designate the plant financing
sources *
2 points
True
False
Non-profit organization is an entity that is operated for the benefit of society as a
whole rather than for the benefit of an individual proprietor or a group of partners or
shareholders *
2 points
True
False
Cash and other assets for plant auditions or for renewals and replacements received
from gifts and grants, from transfers from current funds, or from the issue of long-term
indebtedness are recorded by debits to appropriate asset accounts balances and
credits invested in plant asset that designated the purpose to be served by the
resources *
2 points
True
False