The Friends of the Library FOL, a Not-For-Profit Entity, Received

question 1

Multiple Choice

The Friends of the Library FOL, a not-for-profit entity, received a gift restricted to acquisition of a special piece of the equipment used to restore books.Late last year FOL acquired the machine at a total cost of $19,000.The machine is estimated to have a useful life of eight years and a salvage value of $3,000.In what fund should FOL make the entry to record the depreciation for the current year?

• A)Unrestricted fund.
• B)Temporarily restricted fund.
• C)Permanently restricted fund.
• D)FOL should not recognize depreciation.

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Definitions:

IgG

A class of immunoglobulins that plays a major role in the body's immune response by identifying and neutralizing pathogens.

Circulating Antibodies

Antibodies present in the bloodstream, involved in identifying and neutralizing pathogens such as bacteria and viruses.

IgD

A class of immunoglobulin involved in the immune system's response, serving primarily as an antigen receptor on B cells.

Maturation

The process of becoming mature or fully developed, which can refer to biological, psychological, or emotional development in living organisms.