Which of the following is true regarding the financial statements of a private sector nonprofit hospital?

Question

Quizplus · Accepted Answer

A) Private sector nonprofit hospitals follow accrual basis accounting, so revenues are measured using the accrual basis of accounting.
B) The net assets of nonprofit hospitals are classified into three categories: unrestricted, temporarily restricted, and permanently restricted. Changes in net assets must be shown by net asset class.
C) The Statement of Cash Flows for nonprofit hospitals uses a three-category format as well (operating, investing, and financing activities). Therefore, all the given statements are true.

Which of the Following Is True Regarding the Financial Statements