Multiple Choice
To what extent do organizations that use fund accounting also report on the entity as a whole?
A) Organizations that use fund accounting are not required to report on the entity as a whole
B) Organizations that choose to report on the entity as a whole are not permitted to use fund accounting for internal purposes
C) Organizations that use fund accounting are required to report on the entity as a whole
D) Organizations that use fund accounting have the option of reporting either on funds or on the organization as a whole
Correct Answer:

Verified
Correct Answer:
Verified
Q5: (Discussion problem on fund accounting)<br>Discuss the nature
Q6: Which of the following is not a
Q7: Which entity establishes financial accounting standards and
Q8: A not-for-profit organization performs all of the
Q9: (Matching organizational characteristics with different types of
Q11: For which types of organizations is the
Q12: Which of the following is the most
Q13: Government and nonprofit accounting focuses on which
Q14: Which of the following activities is performed
Q15: Concepts statements issued by the GASB and