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Grants are treated as revenues for a nonprofit. 

Nonprofit organizations are automatically exempt from any income taxes.

Which of the following is the correct accounting equation for a nonprofit?

Nonprofits are not allowed to borrow money like for-profit businesses are.

Most nonprofits are required to file which of the following annual reports to the federal government?

Both for-profit and nonprofit businesses are required to include a Statement of Cash Flows in their annual reports.

A nonprofit organization may have funds that are restricted for a particular use. Who can make these restrictions?

Nonprofits are not allowed to borrow money like for-profit businesses are.

A nonprofit organization is never allowed to earn profits. 

A nonprofit organization may have funds that are restricted for a particular use. Who can make these restrictions?