In the depicted chemical equation, what is happening to the…

Questions

In the depicted chemicаl equаtiоn, whаt is happening tо the FADH2 reactant?

Select EITHER N1 оr N2 fоr yоur response. Pleаse write N1 or N2 on your аnswer. N1    You hаve been named to the Board of Trustees for a private (not-for-profit) university. Since you are an accountant, you have been appointed to head up the finance committee of the Board of Trustees.  Because of your experience in accounting and auditing you are familiar with the financial statements of corporations, and you have even been involved with some government audits.  However, you have not worked in the not-for-profit sector.  As a result, you have decided you need to review the financial reports prepared by the university over the last few years so you can gain a better understanding of not-for-profit university financial statements. The following are some questions you are undertaking to answer.   Required: What are the required financial statements for the university and how are the financial statements different from the financial statements of a government university? What, if any, transactions are recorded differently by not-for-profit universities versus a government university? What do you find particularly informative or helpful about the financial statements provided by the not-for-profit university when assessing the financial performance of the university? Why or how to you believe the points you have listed are informative or helpful? ---------------------------------------------------------------------------------  N2       The Hands On Children’s Museum is a not-for-profit organization that just hired a new controller. The controller has only worked with for-profit organizations. However, because the controller is aware that both for-profit organizations and not-for-profit organizations follow FASB when accounting and preparing financial reports she believes that it would be appropriate to prepare the Museum’s financial statements following the same requirements as those used in the for-profit industry. Required: Does FASB require the same financial statements from for-profit and not-for-profit organizations? Explain your answer. Discuss how the statements are similar and/or different. Identify specific similarities or specific differences in format or content of the various statements. Discuss why you believe the statements should or should not be the same in form or format for not-for-profit organizations and for-profit organizations.