Fike Hospital,a Private,not-For-Profit Institution,receives an Unrestricted Gift of Common Stock

question 40

Multiple Choice

Fike Hospital,a private,not-for-profit institution,receives an unrestricted gift of common stock with a fair value of $100,000.The donor had paid $40,000 for the stock five years earlier.The gift should be recorded as an

• A) Increase in unrestricted net assets of $40,000.
• B) Increase in temporarily restricted net assets of $100,000.
• C) Increase in temporarily restricted net assets of $40,000.
• D) Increase in unrestricted net assets of $100,000.

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Definitions:

Concert Audience

The group of people who attend and watch a musical performance at a concert venue.

Secondary Group

A large and impersonal social group whose members pursue a specific goal or activity but typically have a detached and superficial relationship with one another.

Married Couple

Two individuals who are legally united in marriage, forming a partnership recognized by law and/or culture.

Shares His Birthday

The occurrence of two or more individuals having the same date of birth.