Which of the following transactions would result in an increase in unrestricted net assets for the year ended December 31, 2005?
- I. A private, not-for-profit hospital earned interest on investments that were board-designated.
- II. A private, not-for-profit voluntary health and welfare organization received unconditional promises to give (pledges) which will not be received until the beginning of 2006. The donors placed no restrictions on their donations.
- a. Both I and II.
- b. I only.
- c. II only.
- d. Neither I nor II.