The Transactions Described in the Following Questions Occurred in a Voluntary

question 88

Short Answer

The transactions described in the following questions occurred in a voluntary health and welfare organization during the year ended December 31, 20X8. For each transaction, indicate its effect(s) on the organization's statement of activities prepared for the year ended December 31, 20X8. List all effects of transactions affecting more than one class of net assets. Indicate your choice(s) by entering the letter corresponding to the effects listed here:
Effects of Transactions on Statement of Activities
A. Increases unrestricted net assets.
B. Decreases unrestricted net assets.
C. Increases temporarily restricted net assets.
D. Decreases temporarily restricted net assets.
E. Increases permanently restricted net assets.
F. Decreases permanently restricted net assets.
G. Transaction is not reported on the statement of activities.
Income was earned from investments of assets that the board previously designated for plant expansion.

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Definitions:

Inversion And Eversion

Inversion and eversion refer to movements of the sole of the foot. Inversion involves turning the sole inward, toward the midline of the body, while eversion refers to turning the sole outward, away from the midline.

Feet

The lower part of the leg below the ankle, on which a person stands or walks.

Triaxial

Refers to a system or component operating or existing in three distinct axes simultaneously, often used in reference to joints or stress analysis.

Diarthrosis Joint

A type of synovial joint that permits a variety of movements, such as bending, extending, and rotation, exemplified by joints like the knee, elbow, and shoulder.