Which is true regarding the Statement of Financial Position for not for profit organizations? Select one: a. Assets and liabilities must be broken down between unrestricted, temporarily restricted, and permanently restricted. O b. Assets and liabilities must be classified as to time (current and long term). O c. Assets, liabilities, and net assets must be classified between unrestricted, temporarily restricted, and permanently restricted O d. Net assets must be broken down between unrestricted, temporarily restricted, and permanently restricted etry should be made by he hospital to neacord the estabishment of the enme GENERAL JOURNAL Explanation a) Cash 00,000 b) Cash Pemanenty Restricled Sppot-Contributions 500.000 589,060 600,000 Saled one Which of the following financial statements is required for voluntary health and welfare organizations (VHWOs) but not for other nonprofit organizations (ONPOs)? Select one: O a. Statement of Functional Expenses. 0 b. Statement of Cash Flows. Oe Statement of Activities. O d. Statement of Financial Position. Temporarily restricted net assets may be released from restriction by Select one: a. The death of the donor O b. Satisfaction of purpose restrictions. c. Written authorization of the organization's board of directors. O d. Approval of the independent auditor