The Transactions Described in the Following Questions Occurred in a Voluntary

question 48

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
-Income was earned from investments of assets that the board previously designated for plant expansion.

• 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:

Disagreeable Behavior

Actions or conduct that are contrary to harmony or conventional norms, often resulting in conflicts or friction within social interactions.

Word-Processing Program

A software application used for the creation, editing, and formatting of text documents.

Erikson

A developmental psychologist famous for his theory on the psychosocial development of human beings, outlining eight stages from infancy to late adulthood.

Competence

The ability of an individual to do something successfully or efficiently.