A not-for-profit organization receives donated supplies valued at ...

[clippers!]

A not-for-profit organization receives donated supplies valued at 40,000 in June. As of the fiscal year end December, 31, 20X3, the organization had used 25 of the materials. The organization should report
 
  A. Restricted contributions of 40,000 and no expenses.
  B. Restricted contributions and expenses of 40,000.
  C. Unrestricted contributions of 40,000 and expenses of 10,000.
  D. Unrestricted contributions of 10,000 and no expenses.

Question 2

The MIS is a subsystem of the AIS.
  Indicate whether the statement is true or false

[firehawk60]

Answer to Question 1

C

Answer to Question 2

F