A Private,not-For-Profit Hospital Received Contributions of $50,000 from Donors on June

question 54

Multiple Choice

A private,not-for-profit hospital received contributions of $50,000 from donors on June 15,20X9.The donors stipulated that their contributions be used to purchase equipment for the hospital.As of June 30,20X9,the end of the hospital's fiscal year,$12,000 of the contributions had been spent on equipment acquisitions.In the hospital's general fund,what account would be credited to recognize the release of the restrictions on the temporarily restricted contributions used to acquire equipment?

• A) Revenue released from equipment acquisition restriction
• B) Other financing sources
• C) Net assets released from equipment acquisition restriction
• D) Unrestricted net assets released from equipment acquisition restriction

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Definitions:

Basement Membrane

A slim, compact extracellular matrix layer that divides epithelial or endothelial cells from the connective tissue beneath, crucial for tissue renewal, filtration, and communication between cells.

Epithelium

Layers of cells covering internal and external surfaces of the body, including skin, glands, and digestive tract linings.

Major Manifestations

Principal signs or symptoms indicating the presence of a disease or condition.

Inflammation

A biological response to harmful stimuli, such as pathogens or damaged cells, characterized by redness, swelling, heat, and pain.