ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Question
Chapter 16, Problem 17.5EP
To determine
Identify the option that is suitable to represent as an example for the asset limited as to use.
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Select the best answer - AVHWO receives a donation that is restricted to its endowment and another donation that is restricted to use in acquiring a child care center. How should these donations be reported in the year received, assuming neither donation is expended in that year?
Donation for Endowment
Donation for Child Care Center
a.
b.
c.
d.
e.
Contributions-Temporarily Restricted
Deferred Capital Additions
Contributions—Unrestricted
Capital Additions Deferred
Contributions—Permanently Restricted
Contributions—Temporarily Restricted
Capital Additions
Contributions—Unrestricted
Capital Additions
Contributions—Temporarily Restricted
Which one of the following is a correct statement about the nontax characteristics of a pooled income fund?
A)It must pay a fixed dollar amount to the charitable beneficiary annually.
B)The principal is distributed to the charitable beneficiary at the end of the noncharitable beneficiary's (or beneficiaries') life (or lives).
C)Only the grantor and the charity can be beneficiaries.
D)The income beneficiary cannot receive more than 10% of the original principal value per year.
Which of the following would be considered a general capital asset?
Select one:
a. Real estate purchased with the assets of a pension trust fund.
b. A vehicle purchased from General Fund revenues.
c. A vehicle purchased and maintained by an enterprise fund.
d. A computer purchased from revenues of an internal service fund and used by the supplies department.
Chapter 16 Solutions
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
Ch. 16 - Prob. 1QCh. 16 - Prob. 2QCh. 16 - Prob. 3QCh. 16 - Prob. 4QCh. 16 - What is an example of a performance indicator and...Ch. 16 - Prob. 6QCh. 16 - Prob. 7QCh. 16 - What are assets limited as to use and how do they...Ch. 16 - Prob. 9QCh. 16 - Prob. 10Q
Ch. 16 - Prob. 11QCh. 16 - Prob. 12CCh. 16 - Prob. 17.1EPCh. 16 - Prob. 17.2EPCh. 16 - Which of the following is a true statement...Ch. 16 - Prob. 17.4EPCh. 16 - Prob. 17.5EPCh. 16 - Prob. 17.6EPCh. 16 - Prob. 17.7EPCh. 16 - Wellness Psychiatric Clinic received a large...Ch. 16 - Prob. 17.9EPCh. 16 - Prob. 17.10EPCh. 16 - Prob. 18EPCh. 16 - Prob. 19EPCh. 16 - The Kyle Sports Medicine facility is a...Ch. 16 - Prob. 21EPCh. 16 - Prob. 22EPCh. 16 - Prob. 23EPCh. 16 - Prob. 24EPCh. 16 - Prob. 25EP
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