Author Question: When a not-for-profit hospital uses funds for internal record-keeping purposes, what types of ... (Read 79 times)

LaDunn · **on:** Jul 5, 2018

When a not-for-profit hospital uses funds for internal record-keeping purposes, what types of resources are accounted for in the General Funds?

a. all resources used in normal daily operations except for plant resources
b. all resources except for those in funds that are classified as restricted
c. all resources except for assets whose use is limited
d. all resources except for those in funds that are classified as restricted and assets whose use is limited

Question 2

The most important differences between a service business and a retail business are reflected in their operating cycles and financial statements.
a. True
b. False

Indicate whether the statement is true or false