Which of the Following Statements Is NOT Required in the Financial

question 52

Multiple Choice

Which of the following statements is NOT required in the financial reports of a not-for-profit entity?

• A) Statement of position.
• B) Statement of restricted funds.
• C) Statement of activities.
• D) Statement of cash flows.

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Definitions:

Elaine, Arkansas

A town in the United States known for the Elaine Massacre of 1919, where racial tensions led to a violent conflict and the deaths of many African Americans.

Deputy Sheriff

An officer of the law who serves in the capacity of assisting or acting in place of the sheriff, often involved in law enforcement duties within a county.

African Americans

A term referring to citizens or residents of the United States who have ancestry from the black racial groups of Africa.

North

Generally refers to the northern part of a country or specific region, often associated with specific demographic, economic, or cultural characteristics distinct from the southern part.