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Which of the following is true regarding not-for-profit accounting financial statements? a. Organization-wide not-for-profit financial statements must include reconciliation to the not-for-profit organization's fund financial statements. b. Not-for-profit organization financial statements and disclosures may not include any reference to funds. c. Not-for-profit organizations may maintain funds for internal accounting purposes and may elect to disclose those funds. d. External financial statements must focus on the individual restrictions associated with each classification.
Sagot :
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