What Are the Three Categories of Net Assets Required by the FASB

question 3

Multiple Choice

What are the three categories of net assets required by the FASB in reporting a not-for-profit organization?

• A)Unrestricted,Temporarily Restricted,and Permanently Restricted.
• B)Unrestricted,Restricted,and Fund Balance.
• C)Restricted,Permanently Restricted,and Fund Balance.
• D)Unrestricted,Temporarily Restricted,and Fund Balance.
• E)None of the above.

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