Author Question: A nongovernment not-for-profit hospital presents all of the following financial statements, except ... (Read 77 times)

roselinechinyere27m · **on:** Jul 5, 2018

A nongovernment not-for-profit hospital presents all of the following financial statements, except

A. A balance sheet.
B. A statement of operations.
C. A statement of activities.
D. A statement of cash flows.

Question 2

After posting the second closing entry to the income summary account, the balance will be equal to
a. zero
b. owner's equity
c. revenues for the period
d. the net income or net loss for the period