Trees Forever, a community foundation, incurred $5,000 in expenses during 20X3 putting on its annual fund-raising talent
Question:
Trees Forever, a community foundation, incurred $5,000 in expenses during 20X3 putting on its annual fund-raising talent show. In its statement of activities, Trees Forever should report the $5,000 as
a. A contra asset account.
b. A contra revenue account.
c. A reduction of fund-raising costs.
d. Part of fund-raising costs.
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In its statement of activities Trees Forever should report the 5000 incurred ...View the full answer
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Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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