When Recording the Receipt of Donated Assets, the Credit Could

question 14

Multiple Choice

When recording the receipt of donated assets, the credit could be to

• A)Retained Earnings
• B)Donated Capital
• C)Gain on Donations
• D)a contra account to the asset

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Definitions:

Potential Employer

A potential employer is any individual, company, or organization that is in the process of considering or is capable of hiring a person to perform a specific job.

Dixon V. University

A reference to a legal case, but without specific details provided, it is not clear which specific case or its implications.

Equal Pay Act

Legislation aimed at abolishing wage disparity based on sex by ensuring that men and women receive equal pay for equal work.

Appellate Court

A higher court, usually consisting of more than one judge, that reviews the decision and results of a lower court (either a trial court or a lower-level appellate court) when a losing party files for an appeal. Appellate courts do not hold trials but may request additional oral and written arguments from each party; they issue written decisions, which collectively constitute case law or the common law. Also called court of appellate jurisdiction.