Which of the Following Are the Net Asset Classes Required

question 99

Multiple Choice

Which of the following are the net asset classes required by the FASB for private not-for-profit organizations?

• A) Reserved and Unreserved.
• B) Invested in Capital Assets, Net of Related Debt, Restricted, and Unrestricted.
• C) Permanently Restricted, Temporarily Restricted, Unrestricted.
• D) None of the above.

---

Definitions:

Never Marrieds

Refers to individuals who have never entered into a legally recognized marriage or equivalent partnership by choice or circumstance.

Married

A legally or culturally recognized union between two people, commonly referred to as a marriage, which establishes rights and obligations between them.

Aging

The process of becoming older, characterized by gradual changes in physical, cognitive, and social capabilities over time.

Late Adulthood

A stage in life typically defined by ages 65 and older, characterized by retirement, physical aging, and often, increased focus on social and personal fulfillment.