In not-for-profit accounting,under what circumstances does a reclassification occur?
A) Temporarily restricted net assets are released from time or purpose restrictions.
B) Unrestricted net assets are reclassified to temporarily restricted net assets.
C) Resources of the current unrestricted fund are transferred to the land,building and equipment fund.
D) A pledge previously classified as a "conditional promise" becomes "unconditional."
Correct Answer:
Verified
Q24: A not-for-profit museum holds a collection of
Q25: A not-for-profit arts organization receives a $300,000
Q26: The Bob Buckham Senior Center,a not-for-profit
Q27: A donor had previously donated $2,000 to
Q28: Say No To Meth,a not-for-profit entity devoted
Q30: Which of the following is true regarding
Q31: Not-for-profit colleges and universities are required to
Q32: A not-for-profit secondary school sends a 8-page
Q33: On March 1,2012,a not-for-profit organization received a
Q34: A not-for-profit university uses fund accounting.It maintains
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