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 98 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
:D TYSM

kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

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.

Extended Objects Create a Focal Plane Extended Objects Create a Focal Plane
Worldwide Variations in Population and Income Levels Worldwide Variations in Population and Income Levels
The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
Philip wants to supplement his pension by $415 per month with income from his investments. His ... Philip wants to supplement his pension by $415 per month with income from his investments. His ...
Reengineering the Ti plasmid to create transgenic plants Reengineering the Ti plasmid to create transgenic plants
Video: Electrical changes in the heart

For a complete list of videos, visit our video library