7. For nonprofit entities, reclassifications from net assets with donor restrictions to net assets without donor restrictions are reported on the statement of activities when A. Time restrictions expire. B. Purpose restrictions are satisfied. C. A and B. D. Neither A nor B.
7. For nonprofit entities, reclassifications from net assets with donor restrictions to net assets without donor restrictions are reported on the statement of activities when A. Time restrictions expire. B. Purpose restrictions are satisfied. C. A and B. D. Neither A nor B.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 1MC: A donated fixed asset (from a governmental unit) for which the fair value has been determined should...
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