Clay University,a Not-For-Profit University,earned $300,000 from Bookstore Revenue and Spent

question 94

Multiple Choice

Clay University,a not-for-profit university,earned $300,000 from bookstore revenue and spent $100,000 for faculty research in 20X1.The $100,000 for faculty research came from a $150,000 research grant received in the previous year.What is the effect of these events on unrestricted net assets in 20X1?

• A) Increase $450,000
• B) Increase $400,000
• C) Increase $300,000
• D) Increase $200,000

---

Definitions:

Common Ancestor

A hypothetical or actual species from which two or more descendant species evolved.

Choanoflagellates

A group of free-living unicellular and colonial flagellate eukaryotes considered to be the closest living relatives of animals.

Ribbon Worms

A group of soft-bodied, often very long and slender invertebrates belonging to the phylum Nemertea.

Flatworms

A phylum of simple, bilaterally symmetrical, unsegmented invertebrates with a flattened body, including planarians, flukes, and tapeworms.