For which of the following entities is fund accounting mandated for financial reporting?
A)American Hospital Association.
B)City of New York.
C)Grace Lutheran Church.
D)United Way.

Question

Quizplus · Accepted Answer

Fund accounting is mandated for financial reporting for governmental entities such as cities, counties, and states. The City of New York is a governmental entity and therefore is required to use fund accounting. The other entities listed are not necessarily required to use fund accounting.

For Which of the Following Entities Is Fund Accounting Mandated