C is corrent. SFAS 117 requires a statement of financial position for nongovernmental, not-for-profit organizations which report net assets according to whether the net assets are unrestricted, temporarily restricted, or permanently restricted. Neither the public university nor the private for-profit hospital is under SFAS 117; and, therefore, they are not required to report their net assets in the manner prescribed above.
A is incorrect because the hospital is a for-profit entity.
B is incorrect because neither is required to present the statement.
D is incorrect because the public university falls under the control of GASB, not FASB.
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