The FASB requires the statement of financial position prepared by a not-for-profit organization to report net assets in these categories: unrestricted,temporarily restricted,net investment in capital assets,and permanently restricted.

Question

Quizplus · Accepted Answer

The FASB requires not-for-profit organizations to report net assets in three categories: without donor restrictions, with donor restrictions, and net investment in capital assets is not a separate category.

The FASB Requires the Statement of Financial Position Prepared by a Not-For-Profit