Under FASB Statement 117,reclassifications of Net Assets Are Not Made

question 47

Multiple Choice

Under FASB Statement 117,reclassifications of net assets are not made:

• A) For satisfaction of time restrictions.
• B) For satisfaction of program restrictions.
• C) For satisfaction of fixed asset acquisition.
• D) For permanently restricted net assets.

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Definitions:

Drive Theories

Drive theories refer to psychological concepts suggesting that behavior is motivated by the desire to meet basic biological needs or to reduce drives stemming from these needs, such as hunger or thirst.

Skeptical

Having an attitude of doubt or a disposition towards incredulity either in general or toward a particular object.

Need to Belong

An inherent human drive to form and maintain strong, stable interpersonal relationships.

Psychologists

Professionals specializing in the science of behavior and mind, encompassing all aspects of conscious and unconscious experience as well as thought.