Multiple Choice
Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?
A) Expenses may be unrestricted or temporarily restricted depending on donor intent.
B) Fund accounting is not required.
C) The Statement of Cash Flows may use either the direct or indirect method.
D) Net assets are classified as Unrestricted, Temporarily Restricted or Permanently Restricted.
Correct Answer:
Verified
Correct Answer:
Verified
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