A private NFP organization reports gains on interest rate swaps of approximately $60,000. The organization has variable rate debt and uses the swaps to change the interest payments to fixed payments. Which statement best reflects the organization's reporting for these swaps?
A) The gains appear in the statement of financial position as a component of other comprehensive net assets.
B) The gains appear on the statement of financial position as deferred inflows.
C) The gains appear in the statement of activities as an increase in net assets with donor restrictions.
D) The gains are reported in the statement of activities as an increase in net assets without donor restrictions.
Correct Answer:
Verified
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