A statement of financial position (balance sheet), which
reports unrestricted, temporarily restricted, and permanently
restricted net assets, is required for which one of the following
organizations?

I. A public university.

II. A private, not-for-profit hospital.

(d) FASB ASC 958 requires a statement of financial
position which reports unrestricted, temporarily restricted, and
permanently restricted net assets for nongovernmental, not-forprofit
organizations. Therefore, the statement of financial position
is required for a private, not-for-profit hospital, but not for a
public university, which is supported by government.