Multiple Choice
Which of the following isnot true regarding the Statement of Cash Flows for nongovernmental, not-for-profit organizations?
A) Either the direct or indirect method may be used.
B) If a not-for-profit organization received a restricted cash contribution for long-term purposes, that cash contribution would be reported as a cash flow from financing activities.
C) Restricted contributions used for long-term purposes are reported as financing activities.
D) Four categories of cash flows are used.
Correct Answer:
Verified
Correct Answer:
Verified
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