Nongovernment not-for-profit organizations are required to report their financial statements on

Question

Quizplus · Accepted Answer

Non-governmental not-for-profit organizations are required to report their financial statements using an economic resources measurement focus. This means that their financial statements should reflect the organization's total assets, liabilities, and net assets, rather than just their cash flow. The economic resources measurement focus takes into account all resources available to the organization, including non-cash assets like equipment and property, and it provides a more comprehensive view of the organization's financial health.

Nongovernment Not-For-Profit Organizations Are Required to Report Their Financial Statements