Note: This Is a Kaplan CPA Review Question

question 57

Multiple Choice

Note: This is a Kaplan CPA Review Question
The statement of financial position for a private not-for-profit college should show separate dollar amounts for

• A) Unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.
• B) All accounts in its equity section.
• C) Unrestricted net assets only.
• D) Unrestricted net assets and temporarily restricted net assets.

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Definitions:

Word Processing

The creation, editing, formatting, and printing of text documents using software on a computer.

Reports

Detailed written accounts or presentations of facts or findings, usually the result of research, analysis, or inquiry.

Documents

Written, typed, or electronic matter that provides information or evidence or that serves as an official record.

Electronic Device

A device that operates on electrical power and incorporates circuits and components to perform a specific function, such as a smartphone or laptop.