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How should a nongovernmental not-for-profit organization classify gains and losses on investments purchased with permanently restricted assets? A. Gains may not be netted against losses in the statement of activities. B. Gains and losses can only be reported net of expenses in the statement of activities. C. Unless explicitly restricted by donor or law, gains and losses should be reported in the statement of activities as increases or decreases in unrestricted net assets. D. Unless explicitly restricted by donor or law, gains and losses should be reported in the statement of activities as increases or decreases in permanently restricted net assets. |
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