For a number of years, a private not-for-profit entity has been preparing financial statements that...
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Accounting
For a number of years, a private notforprofit entity has been preparing financial statements that do not necessarily conform to US generally accepted accounting principles. At the end of the most recent year Year those financial statements show total assets of $ total liabilities of $ net assets without donor restriction of $ and net assets with donor restrictions of $ This last category is composed of $ in net assets with purpose restrictions and $ in net assets that must be permanently held. At the end of Year financial statements show total assets of $ total liabilities of $ net assets without donor restriction of $ and net assets with donor restrictions of $ This last category is composed of $ in net assets with purpose restrictions and $ in net assets that must be permanently held. Total expenses for Year were $ and reported under net assets without donor restrictions. Each part that follows should be viewed as an independent situation.
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