Instruction: Choose the correct answer. Choices: A. Increase in unrestricted revenues, gains and other B. Decrease in an expense C. Increase in temporarily restricted net assets D. Increase in permanently restricted net assets E. No required reportable event. 1. Maria's board designates $1,000,000 to purchase investments whose income will be used for capital improvements. 2. 2. Income from investments in item 1 above, which was not previously accrued is received. 3. 3. A benefactor provided funds for building expansion 4. 4. The funds in item 3 above are used to purchased building in the fiscal period following the period the funds were received. 5. 5. An accounting firm prepared Maria's annual financial statements without charge to Maria. 6. 6.Maria received investments subject to the donor's required that investment income be used to pay for outpatient services.
Instruction: Choose the correct answer.
Choices:
A. Increase in unrestricted revenues, gains and other
B. Decrease in an expense
C. Increase in temporarily restricted net assets
D. Increase in permanently restricted net assets
E. No required reportable event.
1. Maria's board designates $1,000,000 to purchase investments whose income will be used for capital improvements.
2. 2. Income from investments in item 1 above, which was not previously accrued is received.
3. 3. A benefactor provided funds for building expansion
4. 4. The funds in item 3 above are used to purchased building in the fiscal period following the period the funds were received.
5. 5. An accounting firm prepared Maria's annual financial statements without charge to Maria.
6. 6.Maria received investments subject to the donor's required that investment income be used to pay for outpatient services.
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