This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.

KNOWLEDGE CHECK

Net assets & classification
Financial statement presentation

Back to all Knowledge Checks

Save this knowledge check

Check your knowledge on this topic

* Which is true of determining whether an increase in net assets should be reported as revenue or as a gain?

Revenues result from activities that are peripheral or incidental to the organization.

Gains result from activities that are sufficiently consequential to the organization.

Revenues normally result from exchange transactions and gains result from contributions.

Gains result from activities that are peripheral or incidental to the organization.

Back to All Assessments

KNOWLEDGE CHECK

Net assets & classification Financial statement presentation

Net assets & classification Financial statement presentation

Check your knowledge on this topic

Explore Topics

Net assets & classification
Financial statement presentation

Net assets & classification
Financial statement presentation