Do-Good Inc

question 10

Multiple Choice

Do-Good Inc. is a newly formed not-for-profit organization. On January 1, 2012, its first day of operations, Do-Good purchased equipment costing $8,000. The equipment is estimated to have a useful life of 4 years, with no residual value at that time. This transaction was the only transaction that took place to date. The equipment was purchased from an unrestricted contribution of $8,000. In which fund would the purchase of the asset be recorded?

• A) The General Fund.
• B) The Operating Fund.
• C) The Capital Fund.
• D) The Encumbrance Fund.

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Definitions:

Fair Hearings

A legal proceeding where individuals have the opportunity to present their case or dispute against government decisions or actions affecting their rights, often related to public assistance or services.

Legal Appeals

The process of seeking a formal change to an official decision through a higher court or authority.

Political Pressure

Influence exerted by groups or individuals aimed at affecting government policy or decisions.

NASW

The National Association of Social Workers, a professional organization supporting the practice and profession of social work in the United States.