Unconditional Promises to Transfer Cash or Other Resources to an Entity

question 63

Multiple Choice

Unconditional promises to transfer cash or other resources to an entity in a voluntary nonreciprocal transaction is the GAAP definition of:

• A) Miscellaneous revenues.
• B) Contributions.
• C) Unconditional promises to give.
• D) Exchange transactions.
• E) Pledges.

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Definitions:

Informal Communication

The exchange of information unofficially within an organization, not following formal channels, structures, or rules.

Position of Power

A status or role that provides someone with the authority to influence others or make important decisions.

Consensus Leadership

A leadership style that emphasizes making decisions based on the agreement and cooperation of all members of a group.

Commitment

The most successful outcome of a leader’s influence tactic: The person makes a full effort.