FASB requires multiyear pledges to be recorded at the present value of the future collections.
Answer the following statement true (T) or false (F)
True
FASB requires multiyear pledges to be recorded at the present value of the future collections. As time passes, the present value of the pledge receivable will increase. At the end of each accounting period the difference between the previously recorded revenue and the new present value is recorded as additional contribution revenue, not interest.
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Direct materials are often referred to as factory supplies
a. True b. False Indicate whether the statement is true or false
When trying to determine which research design is best to choose, it is best to begin with exploratory research if the objective of the research is to ________
A) test hypotheses B) conduct an annual customer satisfaction survey C) define the problem more precisely D) quantify the relative salience of social causes that businesses should be concerned about
Sir Isaac Newton put England on the gold standard when he
A. set a market price for gold, the British pound and the U.S. dollar. B. declared, as master of the English mint, that he would sell gold for 1 lb., 1 shilling, 1 pence, under the law of one price. C. established a fixed equivalency between gold and the British currency. D. brought the matter to Queen Anne, who declared Britain would follow the gold standard.
Early repayment on fixed rate mortgages is not possible when market rates decline
Indicate whether the statement is true or false.