Which of the Following Is False Regarding Restricted Net Assets

question 86

Multiple Choice

Which of the following is false regarding restricted net assets?

• A) They are presented separately
• B) May be the result of constraints imposed by creditors, grantors, contributors or laws or regulations of other governments
• C) They can be imposed by law through constitutional provisions or enabling legislation
• D) None, all of the above are true

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure their equality.

Accounts Balances

The total amounts present in financial accounts, reflecting credits minus debits at a specific point in time.

Trial Balance

A worksheet for accounting purposes that gathers all ledger account balances into credit and debit columns to confirm that a company's financial records are mathematically precise.

Assets

Resources owned or controlled by a business, expected to bring future economic benefits.