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Author Question: Property, plant, and equipment are assets that are expected to serve the business for many years. ... (Read 85 times)

itsmyluck

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on: Jul 5, 2018
Property, plant, and equipment are assets that are expected to serve the business for many years.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Which of the following is a major difference between a not-for-profit hospital's statement of operations and statement of changes in net assets?
 
  a. contributions are not reported in the statement of operations, but are reported in the statement of changes in net assets.
  b. net assets released from restrictions are not reported in the statement of operations, but are reported in the statement of changes in net assets.
  c. the statement of operations does not cover changes in both unrestricted and restricted net assets, but the statement of changes in net assets does cover changes in both unrestricted and restricted net assets.
  d. the statement of operations is not prepared on the cash basis of accounting, but the statement of changes in net assets is prepared on the cash basis of accounting.


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tandmlomax84

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Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

c


itsmyluck

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

scikid

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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