A large nongovernmental not-for-profit entity's statement of activities must report the net change for net assets that are

Without Donor

With Donor

Restrictions

Restrictions

A. Yes Yes

B. Yes No

C. No No

D. No Yes

Question

Social Studies

Melany Simpson

20 September, 15:02

A large nongovernmental not-for-profit entity's statement of activities must report the net change for net assets that are

Without Donor

With Donor

Restrictions

Restrictions

A. Yes Yes

B. Yes No

C. No No

D. No Yes

+5

Answers (1)

Know the Answer?

Gunnar Webster · Answer 1

A. Yes Yes

Explanation:

They must report both: Net Assets with and without Donor Restriction.

According to the Accounting Standards Update (ASC) Not-for-Profit Entities, requires all not-for-profit entities to present: A statement of financial positon, activities and cash flows.

Also for the Statement of Financial Position they should report totals for assets, liabilities, net assets, net assets with donor restrictions and without donor restrictions.

A large nongovernmental not-for-profit entity's statement of activities must report the net change for net assets that areWithout DonorWith DonorRestrictionsRestrictionsA. Yes YesB. Yes NoC. No NoD. No Yes

A large nongovernmental not-for-profit entity's statement of activities must report the net change for net assets that are

Without Donor

With Donor

Restrictions

Restrictions

A. Yes Yes

B. Yes No

C. No No

D. No Yes