Questions
SP25-BL-SPEA-V246-multisection Interactive Reading 5
Matching
Match the premise to the correct response 1: A donation of $500k was made to the Save the Sharks Foundation to be used only for studying swimming patterns of sharks in the year 20X0. 2: Save the Sharks has received a donation of $5. Management decided to use this money in 20X1.
Options
A.Not enough information to determine
B.Contributions without donor restrictions
C.Contributions with donor restrictions
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
We are given a matching_question with two premises and two possible responses to match to.
Premise 1: A donation of $500k was made to the Save the Sharks Foundation to be used only for studying swimming patterns of sharks in the year 20X0.
This clearly imposes a donor-imposed restriction: the funds are restricted to a specific purpose (s......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
Which of the following scenarios would result in an account being labeled as revenue with donor restrictions? {Hint: Consider the conditions that would place restrictions on the use of donated funds. Which option reflects a limitation on how or when the donation can be used?}
Which of the following is not a donor restricted asset?
In a consumer society, many adults channel creativity into buying things
Economic stress and unpredictable times have resulted in a booming industry for self-help products
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!