Which of the following is true of a Statement of Activities prepared for a private college or university?
A) All expenses are shown as unrestricted.
B) Reclassifications from unrestricted to permanently restricted net assets are reported when the governing board designates unrestricted funds for permanent investment in the endowment.
C) Only realized gains or losses on investments are reported.
D) All of the above are true.

Question

Quizplus · Accepted Answer

In a Statement of Activities for a private college or university, all expenses are typically shown as unrestricted, reflecting the nature of their use in operations.

Which of the Following Is True of a Statement of Activities