A not-for-profit organization receives donated supplies valued at $40,000 during the fiscal year. Assume that as of the fiscal year end, the organization had used 25% of the materials. The organization should report
a. restricted contributions of $40,000 and no expenses.
b. restricted contributions of $40,000 and expenses of $40,000
c. unrestricted contributions of $40,000 and expenses of $10,000
d. unrestricted contributions or $10,000 and expenses of $10,000
e. unrestricted contributions of $10,000 and no expenses.
C
Business
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A grant deed passes title when it is:
a. executed. b. notarized c. acknowledged. d. delivered.
Business
Assume Cucumber Company expects each division to earn an 8% target rate of return. Assume the Company’s Pickle Division had the following results:
Sales $24,500,000 Operating income 1,250,000 Total assets 15,500,000 The Division’s ROI is: A. 8.1%. B. 15.8%. C. 5.1%. D. 8.0%.
Business