The transactions described in the following questions occurred in a voluntary health and welfare organization during the year ended December 31,20X8.For each transaction,indicate its effect(s)on the organization's statement of activities prepared for the year ended December 31,20X8.List all effects of transactions affecting more than one class of net assets.Indicate your choice(s)by entering the letter corresponding to the effects listed here:
Effects of Transactions on Statement of Activities
-Received pledges from donors who placed no time or use restrictions on how the pledges were to be spent.
A)Increases net assets with donor restrictions.
B)Decreases net assets with donor restrictions.
C)Increases net assets without donor restrictions.
D)Decreases net assets without donor restrictions.
E)Transaction is not reported on the statement of activities.

Question

Quizplus · Accepted Answer

The Answer of The transactions described in the following questions occurred in a voluntary health and welfare organization during the year ended December 31,20X8.For each transaction,indicate its effect(s)on the organization's statement of activities prepared for the year ended December 31,20X8.List all effects of transactions affecting more than one class of net assets.Indicate your choice(s)by entering the letter corresponding to the effects listed here:
Effects of Transactions on Statement of Activities
-Received pledges from donors who placed no time or use restrictions on how the pledges were to be spent.
A)Increases net assets with donor restrictions.
B)Decreases net assets with donor restrictions.
C)Increases net assets without donor restrictions.
D)Decreases net assets without donor restrictions.
E)Transaction is not reported on the statement of activities.

The Transactions Described in the Following Questions Occurred in a Voluntary