The Transactions Listed in the Following Questions Occurred in a Private

question 103

Multiple Choice

The transactions listed in the following questions occurred in a private, not-for-profit hospital during 20X8. For each transaction, indicate its effect on the hospital's statement of operations for the year ended December 31, 20X8.
Transaction: Received tuition revenue from hospital nursing program and cash from sales of goods in the hospital gift shop.
Effect on Statement of Operations:

• A) Increases operating income.
• B) Decreases operating income.
• C) The transaction is reported on the statement of operations, but there is no effect on operating income.
• D) The transaction is not reported on the statement of operations.

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Definitions:

Ulnar

Pertaining to the ulna, one of the two long bones in the forearm, located on the side opposite the thumb.

Ulnar

Pertaining to the ulna, one of the two long bones in the forearm, located on the side opposite to the thumb.

Radial

Pertaining to the radius bone or located near it; also refers to structures arranged like rays extending from a central point.

Median

Relating to the middle or center, often in reference to a value that separates the higher half from the lower half of a data sample or a physical structure that is in the central part.