Which of the Following Is True Regarding the Statement of Activities

question 95

Multiple Choice

Which of the following is true regarding the Statement of Activities for nongovernmental,not-for-profit organizations?

• A) FASB requires that the change in net assets be reported, for each of the net asset classes and in total.
• B) Information for the Statement of Activities may be presented in two statements: Statement of Revenues, Expenses, and Changes in Unrestricted Net Assets, and Statement of Changes in Net Assets.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Spatial Equivalence

The concept that two or more entities occupy the same area or space in relation to each other.

Propositional Representation

The theory that all knowledge can be expressed in semantic-based propositions or statements, depicting relationships between concepts.

Verbal

Pertaining to words and language, especially the use and understanding of words in communication and reasoning.

Visual

Relating to seeing or sight, involving the use and interpretation of visual information.