The financial statements of private not-for-profits are intended primarily for use by present and potential donors.

Question

Quizplus · Accepted Answer

The financial statements of private not-for-profits are primarily intended for use by present and potential donors in order to demonstrate the organization's financial stability and efficacy. However, they may also be used by other stakeholders such as board members, regulators, and the general public.

The Financial Statements of Private Not-For-Profits Are Intended Primarily for Use