Which of the Following Is Not Correct with Respect to the Reporting

question 91

Multiple Choice

Which of the following is not correct with respect to the reporting of expenses for a private not-for-profit?

• A) Expenses can be reported in the unrestricted net asset class or restricted net asset class, as appropriate.
• B) Expenses are reported by function in the Statement of Activities or in the notes.
• C) The FASB describes functions as either program or supporting.
• D) Major program classifications should be shown in the Statement of Activities or in the notes.

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Definitions:

Action Planning

A process by which goals are set and strategies are developed for accomplishing the objectives.

Career Development

The ongoing process of managing one's work life, including choice of occupation, career changes, and professional growth.

Protean Career

A career that frequently changes based on changes in the person's interests, abilities, and values and in the work environment.

Development

The acquisition of knowledge, skills, and behaviors that improve an employee's ability to meet changes in job requirements and in customer demands.