Which of the Following Financial Statements Are NOT Required by Not-For-Profit

question 21

Multiple Choice

Which of the following financial statements are NOT required by not-for-profit organizations for external reporting purposes?

• A) A Statement of Financial Position.
• B) A Statement of Changes in Members' Equity.
• C) A Statement of Cash Flows.
• D) A Statement of Operations.

---

Definitions:

European Euro

The official currency used in 19 of the 27 European Union countries, known as the Eurozone.

Rate of Exchange

The price of one country's currency expressed in terms of another country's currency, facilitating international trade and investment.

Supply and Demand Curves

Graphical representations that show the relationship between the prices of goods and services and their quantities supplied and demanded in the market.

Pound/Dollar Market

A foreign exchange market where the British pound and the US dollar are traded, indicating the exchange rate between these two currencies.