Not-for-profits refer to net income as accounting principle, Financial Management

Not-for-profits refer to net income as accounting principle

1. Not-for-profits refer to net income as:

goodwill.

collateral.

not-for-profits are not allowed to have net income since they are required by law to break even.

increase in net assets.

2. Accounting principle that dictates that most assets are not valued at market value:

going concern principle.

tangible asset principle.

accrual principle.

cost convention principle.

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Financial Management: Not-for-profits refer to net income as accounting principle

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Financial Management: Not-for-profits refer to net income as accounting principle

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