Note: This Is a Kaplan CPA Review Question

question 23

Multiple Choice

Note: This is a Kaplan CPA Review Question
Which of the following transactions of a private voluntary health and welfare organization would increase temporarily restricted net assets in the statement of activities for the current year?
I. Received a contribution of $20,000 from a donor in the current year who stipulated that the money not be spent until the following year.
II. Spent $25,000 for fund raising during the current year from a donation from the previous year.

• A) I only
• B) Both I and II
• C) II only
• D) Neither I nor II

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Definitions:

Specialty Tea

Specialty tea refers to high-quality teas that are often distinguished by their origin, unique flavors, and cultivation practices, attracting a premium market.

Standard Deviation

A measure of the dispersion or variability in a set of data, indicating how much individual data points differ from the mean.

Stockout

A situation where the demand for a product exceeds the available supply, resulting in an inability to fulfill customer orders.

Sales Distribution

The process and system by which a company gets its products or services to its customers efficiently.