Question

For each characteristic, concept, or financial reporting requirement listed below. select x in the type of organization column if the item applies to that type of organization. leave a cell blank if the item does not apply.

Answer 1

Non governmental/Not-for-profit Organizations - Annual performance report:

NFP health care entities are required to provide limited financial performance information as part of a “performanceindicator.”

State and Local Governments - Reporting of program expenses separate from supporting expenses:

It might appear that program expenses are reported separate from supporting expenses. To some extent, that is true.But, in most cases, the expenses for state and local governments are reported by function rather than program and may include some supporting rather program expenses within those functions. Either way, partial credit might be warranted here.