In the Statement of Activities, FASB Statement No

question 43

True/False

In the statement of activities, FASB Statement No.117 requires revenues to be reported as increases in one of the three categories of net assets, depending on donor-imposed restrictions; however, all expenses should be reported as decreases in unrestricted net assets.

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Definitions:

Disability Check

Financial assistance provided to individuals who are unable to work because of a disability.

Parity Provisions

Legal or policy measures that require equitable treatment of mental health conditions in insurance benefits, similar to physical health conditions.

Mental Illnesses

A broad spectrum of psychiatric disorders influencing emotions, cognition, and actions.

Employer's Health Plan

A health insurance plan provided by an employer to its employees as part of employment benefits, covering medical expenses and care.