Author Question: For external financial reporting purposes, charity services are reported as A. Expenses. B. ... (Read 121 times)

ap345 · **on:** Jul 5, 2018

For external financial reporting purposes, charity services are reported as

A. Expenses.
B. Revenues.
C. Deductions from revenues.
D. Nonoperating gains and losses.

Question 2

A government hospital board of directors voted to set aside 3,000,000 of investments for future hospital expansion. In preparing the hospital balance sheet, these resources should be included in the computation of the amount of

a. Unrestricted net assets
b. Restricted net assets
c. Invested in capital assets, net of related debt
d. Permanently restricted net assets