Which Financial Statement Is (Are)required for a Voluntary Health and Welfare

question 114

Multiple Choice

Which financial statement is (are) required for a voluntary health and welfare organization which is not required for a private,not-for-profit hospital?
I.A statement of operations.
II.A statement of functional expenses.

• A) I only
• B) II only
• C) Both I and II
• D) Neither I nor II