Scroll down to complete all parts of this task. The following statements relate to nongovernmental NFPs. Select from the option list provided the most appropriate description of each statement. Each choice may be used once, more than once, or not at all. Statement 1. Reported by functional classification. 2. The activities that result in goods and services being distributed to beneficiaries that fulfill the purposes of the entity. 3. A nongovernmental NFP's external reporting must be based on this guidance. 4. An acceptable method for internal purposes in a nongovernmental NFP. But not required for external reporting. 5. A purpose of external financial reporting by an NFP. 6 Recnonized for amounts received in agency Description E 11:34 TikTok Done 14 of 14 1234567 1. Reported by functional classification, 2. The activities that result in goods and services Expenses being distributed to beneficiaries that fulfill the Program services purposes of the entity, 3. A nongovernmental NFP's external reporting must be based on this guidance. 4 An acceptable method for internal purposes in anongovernmental NPP. But not required for external reporting US GAAP Fund accounting Apurpose of extermaleancial reporting by Helps to assets stewardship Recognized for amdunturecived agency 7 nen odmanity/apprted on the stance viteter amolins ses Papay ww 0 hp