Which type of financial statement shows how every category of expense was allocated?
A) activities
B) cash flows
C) financial position
D) functional expenses

Question

Quizplus · Accepted Answer

Functional expenses statement shows how every category of expense was allocated in regards to the different functions of an organization such as program services, fundraising, and management and general expenses. Activities statement shows how resources were used to carry out specific activities, cash flows statement shows the inflows and outflows of cash during a period, and financial position statement shows the organization's assets, liabilities, and equity at a specific point in time.

Which Type of Financial Statement Shows How Every Category of Expense