Which of the following statements is prepared by all not for profit organizations quizlet?

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What are the financial statements required for allnongovernmental, not-for-profit organizations?

A. Statement of Financial Position, Statement of Activities, Statement of Cash Flows, Statement of Functional Expenses.

B. Statement of Financial Position, Statement of Activities, Statement of Functional Expenses.

C. Statement of Financial Position, Statement of Net Assets, Statement of Functional Expenses.

D. Statement of Financial Position, Statement of Activities, Statement of Cash Flows.

Public colleges and universities that engaged only in business-type activities would have which of the following financial statements?

A. Statement of Net Position, Statement of Activities.

B. Statement of Net Position, Statement of Revenues, Expenses, and Changes in Net Position.

C. Statement of Net Position, Statement of Revenues, Expenses, and Changes in Net Position, and Statement of Cash Flows.

D. Both fund-basis statements (Statement of Net Position, Statement of Revenues, Expenses, and Changes in Net Position, Statement of Cash Flows) and Government-wide (Statement of Net Position, Statement of Activities).

A private college had tuition and fees for the year ended June 30, 2017 in the amount of $45,000,000. Scholarships, for which no services were required, amounted to $4,800,000. Graduate assistantships, for which services were required, amounted to $2,300,000. The amount to be reported by the college for net tuition and fee revenue would be:

A. $37,900,000.
B. $40,200,000.
C. $42,700,000.
D. $45,000,000.

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The FASB Codification requires the following financial statements for all not-for-profit organizations:

A. Statement of financial position, statement of activities, statement of cash flows, and statement of functional expenses.
B. Statement of financial position, statement of operations, statement of cash flows, and statement of functional expenses.
C. Statement of financial position, statement of activities, and statement of cash flows.
D. Statement of financial position, statement of revenues and expenses, statement of cash flows, and statement of functional expenses.