True or false? Not-for-profit health care organizations segregate their net assets between paid-in capital and retained earnings, with paid-in capital representing donor contributions for capital asset acquisition, and retained earnings representing accumulated operating profits and losses. Explain your answer.
1. Can an organization use any month as its fiscal year end? Explain.
2. Use the following terms to fill in the correct answers.
Surplus or Deficit/Change in Net Assets
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