If an investor-owned hospital receives donations whose use is restricted, the cash must be reported as a restricted item on the balance sheet in the equity section.
Answer the following statement true (T) or false (F)
False
The equity section of an investor-owned hospital does not have a section for restricted items. The equity section of the balance sheet is separated into paid-in capital and retained earnings.
You might also like to view...
Which of the following benefits can be reasonably quantified?
a. direct benefits b. tangible benefits c. indirect benefits d. intangible benefits
A nonprofit that qualifies under Section 501(c)(3) must limit its expenditures on ______.
A. lobbying B. health care C. staff salaries D. legal counsel
The investment turnover is the:
A) ratio of income from operations to sales B) ratio of income from operations to invested assets C) ratio of assets to liabilities D) ratio of sales to invested assets
Circuit City v. Adams was decided by:
a) U.S. Supreme Court b) U.S. Circuit Court c) U.S. District Court d) NY Court of Appeals e) Cal Supreme Court