The Following Statement Is True of Private Not-For-Profits

question 141

Multiple Choice

The following statement is true of private not-for-profits

• A) Financial statements are standardized across industries.
• B) Different types of not-for-profit organizations follow very different accountings practices.
• C) The AICPA is only the governing body for not-for-profits.
• D) All of the above are false.

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Definitions:

Compulsion

Repetitive and irrational behaviors or mental acts that an individual feels driven to perform, often associated with obsessive-compulsive disorder.

Repeatedly Washing

Often associated with obsessive-compulsive disorder (OCD), this behavior involves the compulsive urge to wash one's hands or objects to alleviate distress or anxiety.

Obsessive-Compulsive Disorder

A chronic and long-lasting disorder in which a person has uncontrollable, reoccurring thoughts (obsessions) and behaviors (compulsions) that he or she feels the urge to repeat over and over.

Counts Heartbeats

Refers to the process or practice of measuring or tracking the number of heartbeats per unit of time, typically used in health monitoring and fitness contexts.