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:

Structural Realities

The underlying systems and frameworks, such as economic, legal, and social structures, that shape society and the experiences of individuals within it.

Cultural Realities

The lived experiences and norms that characterize a particular society or group, reflecting its values, beliefs, and practices.

Late Victorian Sex-Love Era

pertains to a period in the late 19th century characterized by evolving attitudes towards sexuality, love, and marriage, marking a departure from stricter societal norms.

Doctors

Medical professionals licensed to diagnose and treat illnesses, injuries, and other health conditions.