Question

5. Belle, a nongovernmental not-for-profit organization, received funds during its
annual campaign that were specifically pledged by the donor to another
nongovernmental not-for-profit health organization. How should Belle record these
funds?
a. Increase in assets and increase in revenue
b. Increase in assets and increase in liabilities
C. Increase in assets and increase in deferred revenue,
d. Decrease in assets and decrease in fund balance.​

Answer 1

Answer:

Belle, a nongovernmental not-for-profit organization, received funds during its annual campaign that were specifically pledged by the donor to another nongovernmental not-for-profit health organization. How should Belle record these funds? Decrease in assets and decrease in fund balance.

Answer 2

Belle, a nongovernmental not-for-profit organization, received funds during its

annual campaign that were specifically pledged by the donor to another

nongovernmental not-for-profit health organization. How should Belle record these

funds?

a. Increase in assets and increase in revenue

b. Increase in assets and increase in liabilities

C. Increase in assets and increase in deferred revenue,

d. Decrease in assets and decrease in fund balance.​

Ans. d. Decrease in assets and decrease in fund balance.​