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

Author Question: A government university received a cash donation 1,000,000 to create an endowment. The income of the ... (Read 94 times)

drink

  • Hero Member
  • *****
  • Posts: 554
on: Jul 5, 2018
A government university received a cash donation 1,000,000 to create an endowment. The income of the endowment can be used to support any activity of the university.
 
  In the balance sheet, the 1,000,000 endowment should be included in which component of net position?
  A. Unrestricted net position.
  B. Restricted  nonexpendable net position.
  C. Nonspendable net position.
  D. Permanently restricted net position.

Question 2

The fact that each transaction has a dual effect on the accounting elements provides the basis for what is called
 a. single-entry accounting.
   b. compound-entry accounting.
   c. multiple-entry accounting.
   d. double-entry accounting.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

d


drink

  • Member
  • Posts: 554
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Iowa State University's Tornado/Microburst Simulator Iowa State University's Tornado/Microburst Simulator
This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Computed tomography (CT) uses X-rays to create a CT scan of the brain. Computed tomography (CT) uses X-rays to create a CT scan of the brain.
Ceiling effect of aspirin. A plateau is reached where increasing the dose of aspirin will not create ... Ceiling effect of aspirin. A plateau is reached where increasing the dose of aspirin will not create ...
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Create a map that integrates the following terms: alternative splicing, constitu Create a map that integrates the following terms: alternative splicing, constitu
Video: Renal Failure

For a complete list of videos, visit our video library