Which of the Following Is True of a Statement of Cash

question 111

Multiple Choice

Which of the following is true of a Statement of Cash Flows for a private college or university?

• A) Either the direct or indirect method is acceptable.
• B) Four categories are used: Operating, Capital Related Financing, Non-capital Related Financing, and Investing.
• C) Cash flows must be presented separately for Unrestricted, Temporarily Restricted, and Permanently Restricted categories.
• D) All of the above are true.

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Definitions:

General Legacy

A bequest of a specified amount of money or a percentage of the estate to a beneficiary, as stipulated in a will.

Personal Property

Movable assets owned by an individual or an entity, such as vehicles, furniture, and equipment, in contrast to real property like land or buildings.

Abatement

A reduction or decrease, often referred to in the context of taxes, rent, or legal penalties.

Bequests

Bequests are gifts of money or personal property left to a beneficiary through a will or estate plan.