Alice Makes a Cash Gift Which Has No Strings Attached

question 54

Multiple Choice

Alice makes a cash gift which has no strings attached to a not-for-profit hospital. It is recorded as:

• A)Patient Service Revenue.
• B)Other Operating Revenue--Unrestricted Contribution.
• C)Nonoperating Revenue--Unrestricted Contribution.
• D)an increase in the fund balance of the General Fund.

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Definitions:

Financial Advantage

The benefit gained in a financial aspect, which can refer to lower costs, greater returns, or other financial gains.

Industrial Fiber

Synthetic or natural fibers used for commercial and industrial applications, such as manufacturing textiles, composites, and structural materials.

Molasses

is a thick, dark syrup produced as a byproduct of refining sugar cane or sugar beets into sugar, often used in baking and cooking.

Intermediate Product

An intermediate product is a product that undergoes further processing before becoming a finished good.