During the Years Ended June 30,2017 and 2018,Jackson University,a Private

question 42

Multiple Choice

During the years ended June 30,2017 and 2018,Jackson University,a private university,conducted a cancer research project financed by a $1,000,000 gift from an alumnus.The entire amount was pledged by the donor on July 10,2016.The gift was restricted to the financing of this particular research project.During the two-year research period,Jackson's gift receipts from the alumnus and research expenses related to the research project were as follows for each fiscal year (FY) : FY 2017 FY 2018
Gift receipts $200,000 $800,000
Cancer research expenses $100,000 $900,000
What amount of net assets was released from restriction in 2017?

• A) $200,000.
• B) $100,000.
• C) $1,000,000.
• D) $0.

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Definitions:

Creativity

The generation of meaningful ideas by individuals or teams.

Critical Thinking

The ability to use intelligence, knowledge, and skills to question and carefully explore situations and arrive at thoughtful conclusions based on evidence and reason.

Perceived Conflict

The awareness or belief that there are incompatible differences, disagreements, or oppositions within an interpersonal or group setting.

Emotional Differences

The variations in feelings, moods, and emotional responses among individuals due to diverse factors like personality, experiences, or situations.