A Voluntary Health and Welfare Organization Received a $300,000 Contribution

question 26

Multiple Choice

A voluntary health and welfare organization received a $300,000 contribution on April 15,20X9,from a donor who stipulated the donation be invested permanently in stocks and bonds.The donor further stipulated earnings from the investments be spent according to the wishes of the governing board of the voluntary health and welfare organization.Earnings from the investments for the year ended June 30,20X9,amounted to $6,000.How would the voluntary health and welfare organization report this information for the year ended June 30,20X9?

• A)Increase in net assets with donor restrictions of $306,000.
• B)Increase in net assets with donor restrictions of $306,000,and a footnote disclosure explaining the nature of the restrictions.
• C)Increase in net assets with donor restrictions of $300,000,and in net assets without donor restrictions of $6,000.
• D)Increase in net assets with donor restrictions of $300,000,and in board-designated net assets of $6,000.

Be aware of the historical context and problems that led to the drafting of the U.S. Constitution, including national defense, foreign affairs, and governance under the Articles of Confederation.

Understand the relationship between state and local governments, including the creation and dissolution of local governments.

Identify and differentiate between federal and unitary systems of government.

Recognize amendments and clauses in the U.S. Constitution that highlight states' rights and powers.

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Definitions:

Simplification

The process of reducing a mathematical expression or equation to its simplest form.

Like Terms

Terms in an algebraic expression that have the same variable factors and thus can be combined or simplified.

Mathematical Expression

A combination of numbers, variables, and operators (such as +, -, *, /) that represent a value or quantity.

Mathematical Expression

A combination of numbers, symbols, and operators designed to represent a specific mathematical computation or value.