Which of the Following Is Not True Regarding Accounting and Financial

question 78

Multiple Choice

Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?

• A) Expenses may be unrestricted or temporarily restricted depending on donor intent.
• B) Fund accounting is not required.
• C) The Statement of Cash Flows may use either the direct or indirect method.
• D) Net assets are classified as Unrestricted, Temporarily Restricted or Permanently Restricted.

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