The Difference Between the Financial Statements of Private Not-For-Profit Hospitals

Multiple Choice

The difference between the financial statements of private not-for-profit hospitals and private not-for-profit voluntary health and welfare organizations is:

A) Voluntary health and welfare organizations do not have to prepare a Statement of Cash Flows.
B) Hospitals do not have to prepare a Statement of Functional Expense.
C) Both a and b above.
D) Neither a nor b above.