Golden Path, a Labor Union, Had the Following Receipts and Expenses

question 18

Multiple Choice

Golden Path, a labor union, had the following receipts and expenses for the year ended
December 31, 20X8:
The union's constitution provides that 12 percent of the per capita dues be designated for the strike insurance fund to be distributed for strike relief at the discretion of the union's executive board.

-Based on the information provided,in Golden Path's statement of activities for the year ended December 31,20X8,what amounts should be reported under the classifications of temporarily and permanently restricted net assets?

• A) $0 and $110,000 respectively.
• B) $110,000 and $0 respectively.
• C) $60,000 and $50,000 respectively.
• D) $50,000 and $60,000 respectively.

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Definitions:

Punctuality

The state or quality of being on time.

Primary Appraisal

Primary Appraisal is the initial evaluation of how relevant and impactful a situation is to one's well-being, determining whether it is a threat, challenge, or harm.

Double Approach/Avoidance Conflict

A psychological conflict that occurs when a person faces a situation with both positive and negative aspects, leading to indecision.

Lewin

Refers to Kurt Lewin, a pioneering psychologist known for his field theory in social science.