During the Current Year, Luis University Received a $50,000 Gift

question 21

Multiple Choice

During the current year, Luis University received a $50,000 gift from an alumna who specified that it must be used to pay travel costs for faculty to attend health care conferences in foreign countries.During the year the university spent $8,000 to support travel to a health care conference in Italy.The $8,000 disbursement will cause a NET decrease in which class of net assets?

• A)Unrestricted net assets.
• B)Temporarily restricted net assets.
• C)Permanently restricted net assets.
• D)Cannot be determined.
• Use the following information for Questions 5 and 6.
• Lane College Foundation is governed by a board, some members of which are appointed by the president of Lane College and some of which are elected by the alumni.The foundation was created to solicit and accept donations on behalf of Lane College, a private not-for-profit college.Lane College and its foundation are deemed to be financially interrelated.All funds collected by the foundation must be used to support activities of Lane College.The foundation board can select which activities of Lane College it supports.Lane Foundation received a $1 million bequest from the estate of a 1940 graduate.

Grasp the significance and implications of substitution and output effects in resource allocation.

Understand productivity measures and their calculation.

Recognize the influence of competition on MRP and resource demand.

Evaluate how changes in the final product's price affect the MRP and demand for resources.

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs.

Cultural Values

The core principles and ideals upon which an entire community exists, influencing its members' behaviors, practices, and beliefs.

Change Efforts

Initiatives or plans undertaken to make transitions or modifications in procedures, policies, or personal behaviors.

Literature

Written works, such as books and articles, that are studied for their artistic, cultural, or intellectual value.