Question
On its statement of financial position, the Red Cross reports over $118 million of net assets with donor restrictions, labeled international relief and development services.
On its statement of financial position, the Red Cross reports over $118 million of net assets with donor restrictions, labeled international relief and development services. Which statement below best describes this $118 million balance?
| A. | Total unspent amounts contributed as of year-end that are donor-designated for international relief and development services. | |
| B. | Total amounts contributed for the current year that are donor-designated for international relief and development services. | |
| C. | Total unspent amounts contributed for the current year that are donor-designated for international relief and development services. | |
| D. | Total amounts spent as of year-end that were funded by contributions donor-designated for international relief and development services. |
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Skills For Accounting And Auditing Research
Authors: Shelby Collins
2nd Edition
1618530747, 9781618530745
