51.A Statement of Functional Expenses is required for government-owned hospitals. 52.A Statement of Functional Expenses is required for public colleges and universities. 53.A Statement of...

51.A Statement of Functional Expenses is required for government-owned hospitals.

52.A Statement of Functional Expenses is required for public colleges and universities.

53.A Statement of Functional Expenses isnot
required for private voluntary health and welfare organizations.

54.The Statement of Functional expenses presents a matrix of expenses classified by function (various programs, fund-raising, etc.) and by object or natural classification (salaries, supplies, travel, etc.).

55.Conditional promises to give are recognized as revenue or support when the promise is made net of estimated uncollectible receivables.

56.An intention to give (such as being named in a will) is the same as an unconditional promise to give and can be recorded as revenue when the intention is made known.

57.FASB statement 124 requires that investments in equity securities with readily determinable values be reported at fair market value.