The following correct entry is found on the books of a VHWO:Unrestricted Net Assets—Undesignated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XXXUnrestricted Net Assets—Designated for AIDS Research.. . . . . . . . . . . . . . . . . . . . XXXFrom the entry, one should conclude that the board of directors hasa. designated a portion of the unrestricted net assets for a future AIDS research program.b. designated a portion of the restricted net assets for a future AIDS research program.c. transferred resources to an AIDS research program.d. directed that unused resources previously assigned to an AIDS research program be returned to the unrestricted net asset classification.
The following correct entry is found on the books of a VHWO:
Unrestricted Net Assets—Undesignated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XXX
Unrestricted Net Assets—Designated for AIDS Research.. . . . . . . . . . . . . . . . . . . . XXX
From the entry, one should conclude that the board of directors has
a. designated a portion of the unrestricted net assets for a future AIDS research program.
b. designated a portion of the restricted net assets for a future AIDS research program.
c. transferred resources to an AIDS research program.
d. directed that unused resources previously assigned to an AIDS research program be returned to the unrestricted net asset classification.
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