Under GAAP,both governmental and nongovernmental not-for-profit health care entities are required to identify operating and nonoperating activities on their operating statements.

Question

Quizplus · Accepted Answer

GASB standards require that governmental entities separate activities into operating and nonoperating; however, FASB allows, but does not require, recognition of operating and nonoperating activities.

Under GAAP,both Governmental and Nongovernmental Not-For-Profit Health Care Entities Are