Multiple Choice
Which of the following is true of a Statement of Activities prepared for a private college or university?
A) All expenses are shown as unrestricted.
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) Only realized gains or losses on investments are reported.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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