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The following transaction pertains to the activities of the Kale Gallery, a nonprofit entity. Choose which classification of net assets is affected: net assets with
The following transaction pertains to the activities of the Kale Gallery, a nonprofit entity. Choose which classification of net assets is affected: net assets with donor restrictions (NAWDR) or net asset without donor restrictions (NAWODR). Jane Smith donates $16,000, stipulating that, starting next year, the resources should be used to help meet its regular program and administrative expenses, at the rate of $4,000 a year.
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