Which of the following is true of a Statement of Activities prepared for a private college or university?
A) Only realized gains or losses on investments are reported.
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) All expenses are shown as unrestricted.
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 because they are incurred in the course of providing services and are not restricted by donors.

Which of the Following Is True of a Statement of Activities