Question
Even though there are no investors in a not-for-profit corporation, there is still owners equity that must be recognized as the difference between assets and
Even though there are no investors in a not-for-profit corporation, there is still owners equity that must be recognized as the difference between assets and liabilities. In a not- for-profit corporation, this owners equity is called leftover assets.
True
False
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Sound Investing, Chapter 18 - Significant Accounting Policies And Changes In Them
Authors: Kate Mooney
3rd Edition
0071719407, 9780071719407
