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QUESTION
21. Which of the following disclosures reported under unrestricted net assets is correct for donations made last year that could not be spent until
21. Which of the following disclosures reported under unrestricted net assets is correct
for donations made last year that could not be spent until this year?
A. Reclassification from temporarily restricted net assets—expiration of time restrictions.
B. Reclassification to temporarily restricted net assets—establishment of time
restrictions.
C. A and B.
D. Neither A nor B.
