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 202 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
Gracias!

milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

A high-performance aftermarket air filter often can increase airflow into the engine for more ... A high-performance aftermarket air filter often can increase airflow into the engine for more ...
IPCC Temperature Increase Predictions Relative to 1986-2005 IPCC Temperature Increase Predictions Relative to 1986-2005
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Plot of Land (Modified Offset Method) - Boxed Plot of Land (Modified Offset Method) - Boxed
Video: Factors that affect conduction rates (myelination, axon diameter & temperature)

For a complete list of videos, visit our video library