The Transactions Described in the Following Questions Occurred in a Voluntary

question 30

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:
Effects of Transactions on Statement of Activities
-Received pledges from donors who placed no time or use restrictions on how the pledges were to be spent.

• A)Increases net assets with donor restrictions.
• B)Decreases net assets with donor restrictions.
• C)Increases net assets without donor restrictions.
• D)Decreases net assets without donor restrictions.
• E)Transaction is not reported on the statement of activities.

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Definitions:

Continental Army

The revolutionary war army authorized by the Continental Congress in 1775 to fight against British rule, commanded by General George Washington.

Articles of Secession

Documents drafted and ratified by the 11 Confederate states declaring their secession from the United States of America, leading up to the Civil War.

Military Strategy

The planning and execution of movements and operations by armed forces to achieve political or military objectives.

Invading Canada

A historical reference to various military campaigns, most notably during the War of 1812, where American forces attempted to invade territory in what is now Canada.