A Nongovernment Voluntary Health and Welfare Organization Received Unrestricted Cash

question 7

Multiple Choice

A nongovernment voluntary health and welfare organization received unrestricted cash donations of $23,000 for the current year, $30,000 of donations to be used for the following year, and a $100,000 donation to establish a permanent investment endowment. The organization should report

• A) Unrestricted revenues of $53,000 and permanently restricted revenues of $100,000.
• B) Temporarily restricted revenues of $153,000.
• C) Unrestricted revenues of $23,000 and temporarily restricted revenues of $130,000.
• D) Unrestricted revenues of $23,000, temporarily restricted revenues of $30,000, and permanently restricted revenues of $100,000.

Understand the legal framework supporting multiculturalism in Canada, including the Employment Equity Act.

Discuss the significance of hyphenated identities and their role in fostering a multicultural society.

Comprehend the global context of multiculturalism and compare Canada's approach to those of other countries.

Assess the public opinion and challenges towards multiculturalism, including xenophobia, assimilation pressures, and cultural isolation.

---

Definitions:

Shareholders' Equity

The residual interest in the assets of an entity after deducting liabilities, essentially representing the owners' equity in a corporation.

Equity Method

An accounting technique used to record investments in subsidiary companies, where the investment's value is adjusted over time to reflect the investor's share of the subsidiary's profits or losses.

Consolidation

The process of combining the financial statements of several subsidiary companies into the statements of a single parent company, displaying the group's total financial status as a single entity.

Cost Method

An accounting method used to value an investment, where the investment is recorded at its cost and adjustments are only made when there are declines in value or realized returns.