A not-for-profit entity's statement of net assets will NOT report which of the following?
A)Net assets invested in capital assets, net of related debt.
B)Capital assets.
C)Temporarily restricted net assets.
D)Permanently restricted net assets.

Question

Quizplus · Accepted Answer

A not-for-profit entity's statement of net assets will report capital assets, temporarily restricted net assets, and permanently restricted net assets. However, it will not report net assets invested in capital assets, net of related debt, as this information is typically disclosed in the footnotes to the financial statements.

A Not-For-Profit Entity's Statement of Net Assets Will NOT Report