Classification of Revenues/Support and Expenses. For each of the independent transactions listed in the left-hand column below, indicate which of the revenue/support or expense classifications apply by choosing one or more of the letters from the listed items in the right-hand column. Choose all that apply.

Transaction

1. A museum gift shop sold prints of famous paintings.

2. An NPO incurred a cost for its annual financial statement audit.

3. A registered nurse volunteered 10 hours a week for a local agency for disabled persons.

4. A donor contributed $1 million to a not-for-profit hospital for a new clinic.

5. An art association hosted a $100-perplate dinner attended by members, donors, and potential donors.

6. A donor contributed securities valued at $10 million to be permanently invested. Earnings thereon are stipulated by the donor to be used for eye research.

7. An NPO job training center incurred payroll expenses of $500,000 for instructors and mechanics and $100,000 for the center director and clerical staff. Of this amount, $400,000 was spent from temporarily restricted federal and state grants.

8. The Older Adult Transportation Service received $8,000 from riders for the year and $52,000 from temporarily restricted grant sources.

Revenue/Support and

Expense Classifications

a. Exchange revenue

b. Unrestricted support

c. Temporarily restricted support

d. Permanently restricted support

e. Released from restriction

f. Program services expense

g. Management and general expense

h. Fund-raising expense