When Consolidated Financial Statements Are Prepared for a Not-For-Profit Organization

question 56

True/False

When consolidated financial statements are prepared for a not-for-profit organization using fund accounting, these statements should show only consolidated statements of operations and consolidated statement of financial position.

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Definitions:

Family Planning

The practice of controlling the number and spacing of offspring through the use of contraception or fertility control.

Vas Deferens

The duct through which sperm travels from the testicle to the urethra, essential for the delivery of male gametes to the female reproductive tract.

Male Sterilization

A form of contraception involving a surgical procedure (vasectomy) that makes a man permanently unable to father children.

Laparoscopy

A form of tubal ligation using a viewing lens (the laparoscope) to locate the fallopian tubes and another instrument to cut or block and close them.