The equity section of Statement of Financial Position for private not-for-profits includes which accounts?

Question

Quizplus · Accepted Answer

The equity section of Statement of Financial Position for private not-for-profits includes three types of net assets: Unrestricted, Temporarily Restricted, and Permanently Restricted. These categories are based on donor-imposed restrictions on the use of the funds. Invested in Capital Assets net of related debt and Reserved and Unreserved Fund Balance are not part of the equity section of the Statement of Financial Position for private not-for-profits.

The Equity Section of Statement of Financial Position for Private