Private Colleges must comply with which standard's setting body?

		GASB
		FASAB
		FASB
		GASB

Which of the following statements is true regarding private colleges and universities?

		The statement of cash flow is separated into four categories.
		The income statement is separated into several columns and categories
		They are not required to file a statement of cash flow
		Net assets include the category: Capital assets net of related debt.

1. The Balance Sheet for Founders Library, a private nonprofit organization, should report separate dollar amounts for the librarys net assets according to which of the following classifications?

   		Unrestricted and permanently restricted.
   		Unrestricted, restricted, and invested in net assets.
   		Unrestricted and temporarily restricted.
   		Unrestricted, temporarily restricted, and permanently restricted.