One of the major objectives of FASB 117 is to
A)emphasize the different fund structures that currently exist for all private,nonprofit organizations.
B)change the reporting for governmental organizations so that their reporting is comparable to that of private,nonprofit organizations.
C)report combined financial statements,instead of individual fund financial statements,for all private,nonprofit organizations.
D)bring about greater uniformity in the financial statements of all private,not-for-profit organizations.

Question

Quizplus · Accepted Answer

The objective of FASB 117 is to bring about greater uniformity in the financial statements of all private, not-for-profit organizations. It provides guidelines for accounting and financial reporting that apply to all nonprofit organizations.

One of the Major Objectives of FASB 117 Is to