Question
Make-A-Wish Foundation accepts $40,000 in donations that are donor designated to specific wish granting activities. When the resources are spent for this purpose, the statement
Make-A-Wish Foundation accepts $40,000 in donations that are donor designated to specific wish granting activities. When the resources are spent for this purpose, the statement of activities will report:
| A. | Net assets released, as a $40,000 increase in net assets with donor restrictions and a $40,000 decrease in net assets without donor restrictions, and expenses of $40,000, as a decrease in net assets with donor restrictions. | |
| B. | Net assets released, as a $40,000 decrease in net assets with donor restrictions and a $40,000 increase in net assets without donor restrictions, and expenses of $40,000, as a decrease in net assets without donor restrictions. | |
| C. | Expenses of $40,000, as a decrease in net assets with donor restrictions. | |
| D. | Expenses of $40,000, as a decrease in net assets without donor restrictions. |
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The Process Auditing And Techniques Guide
Authors: J.P. Russell
2nd Edition
087389782X, 978-0873897822
