bellow are some of the New York State Society of CPAs (NYSSCPA) transactions for 2021.
Required
For each item above, indicate what category of net assets it affects on the NYSSCPA 2021 statement of activities, if any. Use the abbreviations listed bellow.
Net assets without donor restrictions (NR)
Net assets with donor restrictions (R)
Does not affect net assets (N/A)
-A donor gives $1,000,000 to the NYSSCPA. The donor specifies that the endowment cannot be spent, but income from its investment is to be used for scholarships.

Question

Quizplus · Accepted Answer

The donation is restricted by the donor to be kept as an endowment, with only the income from its investment to be used for scholarships, thus affecting net assets with donor restrictions (R).

Bellow Are Some of the New York State Society of CPAs