Which of the following is not true regarding the Statement of Cash Flows for nongovernmental, not$-$for$-$profit organizations?

Multiple Choice

Four categories of cash flows are used.

If a not$-$for$-$profit organization received a restricted cash contribution for long$-$term purposes, that cash contribution would be reported as a cash flow from financing activities.

Either the direct or indirect method may be used.

Restricted contributions used for long$-$term purposes are reported as financing activities.