Question
At the beginning of the year, the Baker Fund, a nongovernmental BFP corporation, received a $125,000 contribution restricted to youth activity programs. During the year,
At the beginning of the year, the Baker Fund, a nongovernmental BFP corporation, received a $125,000 contribution restricted to youth activity programs. During the year, youth activity generated revenues of $89,000 and had program expenses of $95,000. What amount should Baker report as net assets released from restrictions for the current year?
| A. | $0 | |
| B. | $6,000 | |
| C. | $95,000 | |
| D. | $125,000 |
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Monitoring And Auditing Practices For Effective Compliance
Authors: John E. Steiner
2nd Edition
0977843017, 978-0977843015
