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Free CPA Financial Accounting and Reporting (FAR) Mock Exam
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Question 1 of 10⏱ 08:00
While reviewing the notes to the financial statements, an accountant for a nongovernmental not-for-profit entity finds that the required disclosure describing the composition of net assets with donor restrictions was entirely omitted, even though the entity holds several distinct donor-restricted funds for different purposes. What correction is needed?
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