Under GAAP, Both Governmental and Nongovernmental Not-For-Profit Health Care Entities

question 37

True/False

Under GAAP, both governmental and nongovernmental not-for-profit health care entities are required to identify operating and nonoperating activity on their operating statements.

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Definitions:

Ethics

Ethics refers to the moral principles that govern a person's behavior or the conduct of an activity.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, presented in a structured manner.