Board-designated funds area. not available unless the board of directors removes the restrictions.b. unrestricted net assets.c. not available for current operating use; however, the income earned on the funds is available.d. restricted as to use only for board-designated purposes.

Board-designated funds area. not available unless the board of directors removes the restrictions.b. unrestricted net assets.c. not available for current operating use; however, the income earned on the funds is available.d. restricted as to use only for board-designated purposes.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Board-designated funds are
a. not available unless the board of directors removes the restrictions.
b. unrestricted net assets.
c. not available for current operating use; however, the income earned on the funds is available.
d. restricted as to use only for board-designated purposes.

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