The Transactions Listed in the Following Questions Occurred in a Private,not-For-Profit

question 35

Multiple Choice

The transactions listed in the following questions occurred in a private,not-for-profit hospital during 20X8.For each transaction,indicate its effect on the hospital's statement of operations for the year ended December 31,20X8.
-Transaction: Received contributions restricted by donors for research activities.
Effect on Statement of Operations:

• A)Increases operating income.
• B)Decreases operating income.
• C)The transaction is reported on the statement of operations,but there is no effect on operating income.
• D)The transaction is not reported on the statement of operations.

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Definitions:

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A Founding Father of America, the main writer of the Declaration of Independence in 1776, and served as the third President of the United States from 1801 to 1809.

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Armed groups often composed of non-professional soldiers and civilians organized to perform military functions in emergency situations.

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