How does a recipient not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?
What will be an ideal response?
If there are no restrictions, the recipient entity records the transaction as a liability. If the donor retains the right to revoke or redirect the gift, then the recipient entity records a refundable advance (also a liability), except in the case where the recipient entity is in control of the asset, in which case the receipt is recorded as Temporarily Restricted Net Assets - Contributions
You might also like to view...
Which role would typically have the least amount of interaction with the customer?
A. support group analyst B. level one analyst C. dispatcher D. level one specialist
The equity section of a firm's balance sheet contains _____.?
A. ?retained earnings B. ?current assets C. ?corporate bonds D. ?dividends E. ?noncash assets
Whitlatch Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: ?Total machine-hours60,000?Total fixed manufacturing overhead cost$342,000?Variable manufacturing overhead per machine-hour$2.70Recently Job M238 was completed with the following characteristics:?Number of units in the job70?Total machine-hours140?Direct materials$945?Direct labor cost$2,800Required:Calculate the total job cost for Job M238.
What will be an ideal response?
Giving people additional tasks at the same time to alleviate boredom is referred to as
A. job enlargement. B. task orientation. C. task significance. D. job enrichment. E. job development.