Which of the Following Is True of a Statement of Activities

Multiple Choice

Which of the following is true of a Statement of Activities prepared for a private college or university?

A) Only realized gains or losses on investments are reported.
B) Reclassifications from unrestricted to permanently restricted net assets are reported when the governing board designates unrestricted funds for permanent investment in the endowment.
C) All expenses are shown as unrestricted.
D) All of the above are true.