United Charities Accepted a Contribution from a Donor and Agreed

question 53

Multiple Choice

United Charities accepted a contribution from a donor and agreed to transfer the assets to Aid for Friends, a not-for-profit that provides temporary shelter to the homeless.United Charities should debit cash or other assets and credit

• A)Unrestricted revenue.
• B)Temporarily restricted revenue.
• C)Liability to Aid for Friends.
• D)United Charities should not make an entry.

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Definitions:

Ownership Of Capital

Refers to the holding of assets or wealth by individuals or entities.

Incentive-based Regulations

Regulatory approaches that aim to encourage desired behaviors through incentives, contrasting with command-and-control policies.

Command-and-control Regulations

These are specific regulatory standards set by the government that dictate the limits for emissions, discharges, or other environmental controls that businesses must legally follow.

Democracy

A form of government in which power is vested in the people and exercised by them directly or through freely elected representatives.