The Following Gifts Are Received in 2016 by a Not-For-Profit

question 34

Multiple Choice

The following gifts are received in 2016 by a not-for-profit entity:
I.$2,000 specified by the donor to be used to pay salaries.
II.$10,000 specified by the donor for new conference room furniture.
III.$5,000 specified by the donor to be held for one year before being expended.
The salaries are paid in 2017 and the conference room furniture is purchased in 2016. The donor did not specify any time restriction on holding the conference room furniture.
-What amount should be reclassified on the Statement of Activities for 2017 from the Temporarily Restricted column to the Unrestricted column?

• A) $ 2,000.
• B) $ 5,000.
• C) $ 7,000.
• D) $10,000.
• E) $12,000.

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Definitions:

Import Statement

The import statement in Java is used to bring in classes or entire packages, making them available to use in the code without needing to qualify names fully.

Math Class

The Math class is a built-in class in many programming languages that provides a library of mathematical functions and constants, such as trigonometric, logarithmic, and exponential functions.

Import Statement

A code statement used to bring a specific class or an entire package into visibility, so its members can be accessed without specifying their fully qualified name.

Random Number

A number generated by a process, whose outcome is unpredictable, and which cannot be subsequently reliably reproduced.