The Transactions Described in the Following Questions Occurred in a Voluntary

question 31

Multiple Choice

The transactions described in the following questions occurred in a voluntary health and welfare organization during the year ended December 31, 20X8. For each transaction, indicate its effect(s) on the organization's statement of activities prepared for the year ended December 31, 20X8. List all effects of transactions affecting more than one class of net assets. Indicate your choice(s) by entering the letter corresponding to the effects listed here:
Effe cts of Transactions on Statement of A ctivities
-A gain was realized from the sale of securities which were permanently invested.The gain is restricted as to use.

• A)Increases unestricted net assets.
• B)Decreases unrestricted net assets.
• C)Increases temporarily restricted net assets.
• D)Decreases temporarily restricted net assets.
• E)Increases permanently restricted net assets.
• F)Decreases permanently restricted net assets.
• G)Transaction is not reported on the statement of activities.

Develop strategies for using social media in job searching and professional branding.

Understand the relationship between net income and various financial metrics.

Recognize the key financial ratios used to measure liquidity, profitability, and leverage.

Distinguish between the uses of different financial ratios in evaluating company performance.

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Definitions:

Foreign Affairs

Government policies and activities related to interactions with other countries, including diplomacy, trade agreements, and conflict resolution.

Iran-Contra

A political scandal in the United States during the Reagan Administration involving the secret sale of arms to Iran and the illicit diversion of the proceeds to fund Contra rebel groups in Nicaragua.

Arms-For-Hostages

Refers to the clandestine arrangement of trading arms for the release of hostages, notably associated with the Iran-Contra affair in the 1980s under the Reagan administration.

Oliver North

A former United States Marine Corps officer who was involved in the Iran-Contra Affair, a political scandal involving the secret sale of weapons to Iran and the diversion of funds to support Contra rebels in Nicaragua.