Which of the Following Is True of a Statement of Activities

question 32

Multiple Choice

Which of the following is true of a Statement of Activities prepared for a private college or university?

• A) Only realized gains or losses on investments are reported.
• B) Reclassifications from unrestricted to permanently restricted net assets are reported when the governing board designates unrestricted funds for permanent investment in the endowment.
• C) All expenses are shown as unrestricted.
• D) All of the above are true.

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Definitions:

Independent

Not influenced by others; making decisions or drawing conclusions based on one's own thoughts and conditions, not controlled by external factors.

Speeding Ticket

A fine or penalty issued by law enforcement to drivers exceeding the legal speed limit.

Events

Occurrences or outcomes that can be observed and are often of interest in probability and statistics.

No Clubs

The absence of formal groups or organizations within a specified context, often referring to schools or communities.