Note: This Is a Kaplan CPA Review Question

question 43

Multiple Choice

Note: This is a Kaplan CPA Review Question
Clay University, a not-for-profit university, earned $300,000 from bookstore revenue and spent $100,000 for faculty research in 20X1. The $100,000 for faculty research came from a $150,000 research grant received in the previous year. What is the effect of these events on unrestricted net assets in 20X1?

• A) Increase $450,000
• B) Increase $400,000
• C) Increase $300,000
• D) Increase $200,000

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Definitions:

Alcohol

A psychoactive substance commonly found in beverages such as beer, wine, and spirits, known for its effects on the central nervous system, which can lead to intoxication.

Marijuana

A mind-altering substance obtained from the Cannabis plant, utilized for either therapeutic or leisure activities.

Contextual Factors

Aspects of the environment or situation that influence the outcome of a process or behavior.

Pubertal Timing

Refers to the timing at which an individual begins experiencing the physical changes associated with puberty, which can impact psychological and social development.