Balance equation. What is the primary accounting equation that describes the balance sheet of a not-for-profit, business-oriented health care entity? Statement of changes in net assets. The following...

Balance equation. What is the primary accounting equation that describes the balance sheet of a not-for-profit, business-oriented health care entity?

Statement of changes in net assets. The following questions relate to the statement of changes in net assets:

a. What is the purpose of this statement?

b. What are the main sections of this statement?

c. What is the difference between permanently restricted and temporarily restricted net assets?