This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An increase in an asset account may be offset by a(n) a. decrease in a liability account. b. ... (Read 212 times)

sjones

  • Hero Member
  • *****
  • Posts: 520
on: Jul 5, 2018
An increase in an asset account may be offset by a(n)
 a. decrease in a liability account.
   b. increase in an expense account.
   c. increase in owner's equity.
   d. decrease in owner's equity.

Question 2

Chase Foundation establishes a 1,000,000 trust for a government university. The local bank is appointed as trustee of the fund. The income of the trust can be used to support any activity of the university.
 
  In the university's statement of net position, the 1,000,000 trust should be included in which component of net position?
  A. Not reported.
  B. Unrestricted net position.
  C. Restricted  nonexpendable net position.
  D. Permanently restricted net position.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jxjsniuniu

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

A


sjones

  • Member
  • Posts: 520
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Rhytidoplasty. This is a common form of plastic surgery in which the skin is pulled and sutured to d Rhytidoplasty. This is a common form of plastic surgery in which the skin is pulled and sutured to d
Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo
The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Mean scores for Erikson’s stage V (Identity) for two cohorts. Scores for both cohorts increase ... Mean scores for Erikson’s stage V (Identity) for two cohorts. Scores for both cohorts increase ...
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Sam and Jen had a tax liability of 5,115 last year. They were entitled to tax credits of 112 ... Sam and Jen had a tax liability of 5,115 last year. They were entitled to tax credits of 112 ...
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library