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The mayor of a large city approaches a group of citizens and suggests that they form an organization to provide social educational and recreational programs for local youth. The group agrees and forms an entity called the Community Youth Organization (CYO). The group also chooses a board of directors, and the board hires an executive director and several staff members. CYO, activities are financed entirely by grants from the city, and many of CYO, programs are held after school hours in the high school. Is the CYO a not for profit or a government organization? Why? What changes in characteristics would be needed to change it from one type of entity to the other?
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ABC Company recognises revenue at the point of shipment. Management decides to increase sales for the current quarter by filling all customer orders. Explain what impact this decision will have on the following:
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