Multiple Choice
Which of the following is true regarding the Statement of Cash Flows for nongovernmental,not-for-profit organizations?
A) Either the direct or indirect method may be used.
B) If a not-for-profit organization received a cash contribution for permanently restricted purposes, that cash contribution would be shown as a cash flow from financing activities.
C) Both of the above.
D) Neither of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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