What are the financial statements required for all non-governmental, not for pro

Question

What are the financial statements required for all non-governmental, not for profit organizations? A. Statement of financial position, statement of activities, statement of cash flow‘s, statement of functional expenses B. Statement of financial position, statement of activities, statement of functional expenses C. Statement of financial position, statement of activities, statement of functional expenses D. Statement of financial position, statement of activities, statement of cash flow’s What are the financial statements required for all non-governmental, not for profit organizations? A. Statement of financial position, statement of activities, statement of cash flow‘s, statement of functional expenses B. Statement of financial position, statement of activities, statement of functional expenses C. Statement of financial position, statement of activities, statement of functional expenses D. Statement of financial position, statement of activities, statement of cash flow’s A. Statement of financial position, statement of activities, statement of cash flow‘s, statement of functional expenses B. Statement of financial position, statement of activities, statement of functional expenses C. Statement of financial position, statement of activities, statement of functional expenses D. Statement of financial position, statement of activities, statement of cash flow’s

Explanation / Answer

Not for profit organizations are those organisation which doesn't have main purpose of earning profit. The main purpose is to rendering service.

Statement of financial position, statement of activities, statement of cash flow’s are required for all non-governmental, not for profit organizations.

Correct answer is D

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