Which One of the Following Statements Is Not Required for Voluntary

question 19

Multiple Choice

Which one of the following statements is not required for voluntary health and welfare organizations?

• A)A statement of financial position
• B)A statement of activities
• C)A statement of functional expenses
• D)A statement of changes in net assets

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Definitions:

Basic Earnings Per Share

A measure of a company's profitability that divides net income by the number of outstanding common shares.

Noncontrolling Interest

The share of equity in a subsidiary not held by the parent company, reflecting the interest that is not controlled by the majority shareholder.

Stockholders' Equity

The residual assets of a company that belong to the shareholders after all liabilities have been deducted; also known as shareholders' equity.

Common Stock

Kind of corporate security that denotes equity ownership in a corporation, offering voting rights and a share in the company's profits through dividends.