Note: This is a Kaplan CPA Review Question
The statement of financial position for a private not-for-profit college should show separate dollar amounts for
A) Unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.
B) All accounts in its equity section.
C) Unrestricted net assets only.
D) Unrestricted net assets and temporarily restricted net assets.

Question

Quizplus · Accepted Answer

Private not-for-profit colleges must report net assets in three categories: unrestricted, temporarily restricted, and permanently restricted, to reflect donor-imposed restrictions.

Note: This Is a Kaplan CPA Review Question