In the Current Year a Not-For-Profit Entity Received a Contribution

question 64

Multiple Choice

In the current year a not-for-profit entity received a contribution of $100,000 to use for scholarships. The entity had budgeted $400,000 for scholarships in the current year and it disbursed $350,000 for scholarships. The amount the entity can consider as 'released from restriction' in the current year is

• A) $0.
• B) $100,000.
• C) $350,000.
• D) $400,000.

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Definitions:

Inductance

A property of an electrical conductor by which a change in current flowing through it induces an electromotive force (voltage) in both the conductor itself and in any nearby conductors by mutual inductance.

Auxiliary Start

Auxiliary start refers to additional methods or devices used to start an electric motor or engine besides the primary starting system, enhancing reliability or performance.

Run Winding

The primary winding in a motor that is connected during the run operation, responsible for creating the magnetic field that turns the motor.