When Consolidated Financial Statements Are Prepared for a Not-For-Profit Organization

Multiple Choice

When consolidated financial statements are prepared for a not-for-profit organization using fund accounting, these statements should show ________.

A) separate statements of operations and consolidated statement of financial position.
B) consolidated statements of operations and consolidated statement of financial position.
C) separate statements of operations and separate statements of financial position.
D) consolidated statement of operations and separate statements of financial position.