Multiple Choice
Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?
A) The Statement of Cash Flows may use either the direct or indirect method.
B) Net assets are classified as Unrestricted, Temporarily Restricted or Permanently Restricted.
C) Expenses may be classified as unrestricted or temporarily restricted depending on donor intent.
D) Fund accounting is not required.
Correct Answer:
Verified
Correct Answer:
Verified
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