Nonprofit fund accounting: restricted funds

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Reference no: EM1357710

Restricted funds for Nonprofit fund accounting:

Can a nonprofit (not-for-profit) organization release restrictions on a "strike fund" and use it in the general fund for current year activity? Why or why not?

If you knew that the strike fund was held for steel workers' union to pay benefits during a potential strike versus a fund used by a nonprofit as a safety reserve in cash for a possible future strike, does that change your answer? Why or why not?

Reference no: EM1357710

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