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The FASB requires for- profit entities to classiy their investments as trading , available for sale, or held to maturity. However, it does not require
The FASB requires for- profit entities to classiy their investments as trading , available for sale, or held to maturity. However, it does not require not-for-profit entities to do the same. What might be the reasoning for this difference in requirements? Which approach is more beneficial to the readers of the financial statements of a not-for-profit organization. Why?Research the FASB standards (Section 958) for information to answer this question. Write a minimum of two pages (double spaced), and provide citations from the FASB database.
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