1. Smith hospital is in Springfield, VA, and is a non-governmental, non-profit. Acme must follow FASB standards? True or False?

2. Healthy life, a health care organization and non-profit, provides $1,000,000 in charity care. City Hospital would not separately list the charity care amounts anywhere in the footnotes or financial statements T/F.

3.Cooper Hospital receives skilled law support (from an attorney) worth $10,000. City Hospital would not record the amount in the financial statements T/F.

4. In 2020, Cooper Hospital must have three categories of Net Assets, including permanently restricted T o F.