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1. If only asset accounts are affected by a transaction, why is the accounting equation...

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1. If only asset accounts are affected by a transaction, why is the accounting equation still balanced? 2. What is the suggested current ratio minimum for ratio of assets to liabilities and what does it mean? 3. What is the purpose of an acid test, or quick, ratio? What is a target ratio and what does it mean? 4. What does the overall liquidity ratio measure? What is a target ratio and what does it mean? 5. Why is revenue diversification important to nonprofits? 6. What are the limits to revenue diversification? 7. Why is financial analysis of a nonprofit more accurate if several years of data are available rather than only data from a single year? 8. Explain why one should be cautious when using a contributions ratio to measure the success of a fundraising office. 9. What is Intergenerational equity and how does it compare to the accounting principle of 'going concern

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