Resources of an Unrestricted Fund That Are Designated by the Governing

question 35

Multiple Choice

Resources of an unrestricted fund that are designated by the governing board for endowment purposes are accounted for in the unrestricted fund by all NNOs EXCEPT:

• A) voluntary health and welfare organizations.
• B) hospitals.
• C) colleges and universities.
• D) other NNOs.

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Definitions:

Business Transactions

Activities or dealings between parties involving the exchange of goods, services, or financial assets.

Legislation

Laws and statutory regulations enacted by a government's legislative branch.

Durability

The ability of a product or material to withstand wear, pressure, or damage; its quality of being long-lasting or enduring.

Improperly Fired

Refers to a termination of employment that violates either legal statutes or contractual terms.