Golden Path, a Labor Union, Had the Following Receipts and Expenses

question 73

Multiple Choice

Golden Path, a labor union, had the following receipts and expenses for the year ended December 31, 20X8: The union's constitution provides that 12 percent of the per capita dues be designated for the strike insurance fund to be distributed for strike relief at the discretion of the union's executive board.
Based on the information provided, in Golden Path's statement of activities for the year ended December 31, 20X8, what amount should be reported under the classification of supporting services?

• A) $150,000
• B) $720,000
• C) $440,000
• D) $290,000

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Definitions:

Recognition

The acknowledgment or appreciation of someone's efforts, achievements, or status, often used as a form of motivation or reward.

Creative

The ability or quality of generating new and original ideas, concepts, or processes.

Bad Mood

A temporary emotional state characterized by feelings of sadness, irritability, or displeasure.

Discouraged

Feeling a loss of confidence or enthusiasm; disheartened.