In accordance with FASB 117 (ASC 958) ,contributions from donors which are to be permanently invested should be disclosed on the statement of activities of a private university as an increase in:
A) Permanently restricted net assets.
B) Permanently restricted fund balance.
C) Endowment fund balance.
D) Deferred revenues.
Correct Answer:
Verified
Q22: Unrestricted current funds of a private university
Q23: Bridger Hospital,which is operated by a religious
Q26: The governing board of Samaritan Hospital,which is
Q27: Net assets restricted as to time or
Q29: A private,not-for-profit hospital uses a fund structure
Q31: A private,not-for-profit university should prepare which of
Q39: A private,not-for-profit hospital received a cash contribution
Q39: All restricted funds of private,not-for-profit hospitals account
Q40: On the statement of operations prepared for
Q44: A private,not-for-profit hospital uses a fund structure
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents