<h3>Hello there!</h3>
Your question asks what type of fund should the gift be accounted for.
<h3>Answer: D). Permanent fund</h3>
The reason why answer choice " ). Permanent fund" is the correct answer because the gift "restricts" the government in it's usage, due to the fact that the $200,000 gift and investment must be used to "beautify the city-owned parks."
The $200,000 gift and investments has a specific intention when being used.
The government would therefore keep some of the money from the gift and investments as a "principal" to make more money from it, while using the rest of the money for it's obligated "use" or "benefit".
This would also be known as a Permanent fund because the fund is being used for something that is owned by the government. In this context, the thing that is owned by the government would be the park, due to the fact that the park is "city-owned." The gift is obligated to be used for the "city-owned" park.
<h3>I hope this helps!</h3><h3>Best regards, MasterInvestor</h3>
Answer:
In Tolan's 2014 income statement, the royalty revenue should be <u>$103,000.</u>
Explanation:
In Tolan's 2014 income statement the royalty revenue will be royalty for January to June received in September 2014, and for July to December 2014 in March 2015
In the year 2014 received in September 2014 = $98,500 which is for the period Jan to June 2014
Royalty = 15% of sales
Sales estimate for July to December 2014 = $30,000
Royalty = $30,000 X 15% = $4,500
Total royalty income for 2014 = $98,500 received + $4,500 to be received in 2015 Mar 15 = $103,000
In Tolan's 2014 income statement, the royalty revenue should be $103,000.
Answer:
c) affirmative action
Explanation:
c) affirmative action
affirmative action is a type of policy that is concerned on the upliftment of the minority group. As it is given in the information above, the minter providing help to minority races by hiring more employee from these races.
it provide access to opportunity for different races. it is first created by president JOHN F KENNEDY in the year 1961. it enforced to restrict employer not to discriminate on the basis of color, region or religion etc.
