The Account Title "Resources Released from Restriction" Is Reported by a 'Restricted

question 25

Multiple Choice

The account title "Resources Released from Restriction" is reported by a 'restricted fund' as a

• A)Revenue account.
• B)Contra-revenue account.
• C)Expense account.
• D)Contra-expense account.

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Definitions:

Proved Reserves

Quantities of natural resources like oil or gas that geological and engineering information indicates with reasonable certainty to be recoverable under existing economic and operational conditions.

Current Prices

Prices of goods and services measured during the current year or period, not adjusted for inflation.

Technology

The use of scientific expertise to achieve practical goals, particularly within industrial sectors.

Minerals

Naturally occurring, inorganic substances with a definite chemical composition and physical properties, found in the earth’s crust.