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13 July, 10:45

In a private not for profit, what would the entry to record the expiration of program restrictions include from the following?:

A. Credit Performance Expense

B. Credit Reclassification from Temporarily Restricted Net Assets

C. Debit Reclassification to Unrestricted Net Assets

D. Debit Reclassification from Temporarily Restricted Net Assets

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  1. 13 July, 10:49
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    Answer: The correct answer is : D. Debit Reclassification from Temporarily Restricted Net Assets

    Explanation: Private nonprofit organizations must follow all FASB standards that apply when registering transactions. The financial statements requested for all non-profit non-governmental organizations are, financial statements, statement of activities and cash flow statements.
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Home » Business » In a private not for profit, what would the entry to record the expiration of program restrictions include from the following?: A. Credit Performance Expense B. Credit Reclassification from Temporarily Restricted Net Assets C.
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