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Author Question: A nongovernment, not-for-profit organization received a cash donation of 100,000 restricted for a ... (Read 107 times)

elizabeth18

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on: Jul 5, 2018
A nongovernment, not-for-profit organization received a cash donation of 100,000 restricted for a specific operating purpose. Only 20,000 of expenses related to the specific operating purpose were incurred during the current year.
 
  In addition to any contribution revenues, what should be reported in the statement of activities for these transactions?
  a. Expenses in changes in unrestricted net assets - 20,000
  b. Expenses in changes in temporarily restricted net assets - 20,000
  c. Net assets released from restrictions - 20,000
  d. Both items a and c

Question 2

______________________________ such as requiring separate authorizations for data-maintenance and business event processing activities is important in the prevention of many fraudulent activities.
 Fill in the blank(s) with correct word


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jessicaduplan

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Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

Segregation of duties


elizabeth18

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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