Which of the Following Is True Regarding the Statement of Financial

question 37

Multiple Choice

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

• A) The Statement must display assets and liabilities separated between the categories of unrestricted, temporarily restricted, and permanently restricted.
• B) The Statement must display totals for net assets separated between the categories of unrestricted, temporarily restricted, and permanently restricted.
• C) Both A & B above.
• D) Neither A nor B above.

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Definitions:

Mental Functions

The various operations of the mind, including perception, reasoning, thinking, and processing emotions.

Humanistic Psychologist

A psychologist specializing in humanistic psychology, which emphasizes individual potential and stresses the importance of growth and self-actualization.

Personal Growth

The process of improving oneself through activities that develop talents and potential, contribute to self-actualization, and enrich quality of life.

Unconscious

A level of consciousness that reflects a lack of awareness of the external world and inner mental activity.