A statement of activities, a statement of functional expense, and a statement of

Question

A statement of activities, a statement of functional expense, and a statement of cash flows prepared using accrual accounting.

A statement of activities, a balance sheet, and a statement of cash flows prepared using accrual accounting.

A statement of financial position, a statement of activities, a statement of cash flows and a statement of functional expenses prepared using accrual accounting.

A statement of cash flows, a statement of activities, and a statement of financial position prepared using either cash basis or accrual basis accounting.

Explanation / Answer

The correct answer is

B. A statement of activities, a balance sheet, and a statement of cash flows prepared using accrual accounting.

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