Health care entities may be private, not-for-profit, governmental, or for-profit. All are subject to the AICPA Health Care Guide and FASB statements 116 and 117.

Question

Quizplus · Accepted Answer

The Health Care Guide applies equally to private not-for-profit governmentally owned and investor-owned health care organizations. Only private not-for-profit entities must comply with FASB statements 116 and 117.

Health Care Entities May Be Private, Not-For-Profit, Governmental, or For-Profit