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Question
the horizon healthcare foundation was formed to solicit donations that support certain initiatives of the horizon hospital. the foundation is a separate legal entity that meets all the relevant irs criteria for foundations. david, the hospital controller, has prepared an operating budget for the coming year that includes all revenues and expenses of the foundation within the hospitals budget. peggy, the hospital cfo, tells david to remove the foundation expenses and revenues. what is correct operating budget procedure in this case?
a. leave the foundation revenues and expenses in the hospitals operating budget
b. remove the foundation revenues and expenses because it is a separate legal entity
c. remove the foundation revenues and expenses because peggy doesnt get along with the foundations director
d. none of the above
Answer
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