A Not-For-Profit Entity Statement of Net Assets Will NOT Report

question 42

Multiple Choice

A not-for-profit entity Statement of Net Assets will NOT report which of the following?

• A)Net assets invested in capital assets net of related debt.
• B)Capital assets.
• C)Temporarily restricted net assets.
• D)Permanently restricted net assets.

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Definitions:

Categorical

Pertaining to absolute and unconditional statements or classifications.

Ethical

Relating to morals, focusing on right and wrong conduct.

Categorical Imperative

A central concept in the ethical philosophy of Immanuel Kant, stating that one should act only according to that maxim whereby you can, at the same time, will that it should become a universal law.

Motives of Vanity

The driving factors behind actions that are primarily focused on excessive pride in one's appearance or achievements.