During the Year, Goodman College Received the Following

question 27

Multiple Choice

During the year, Goodman College received the following:
-An unrestricted $280,000 pledge to be paid the following year
-A $140,000 cash gift restricted for study-abroad scholarships
-A notice from a recent business school graduate that he has named the college as a beneficiary of $60,000 in his will
What amount of contribution revenue should Goodman College report in its statement of activities?

• A)$140,000
• B)$200,000
• C)$420,000
• D)$480,000

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Definitions:

Semicircular Canals

Organs of equilibrium that respond to rotation and angular movement of the head; part of the vestibular apparatus.

Vertebrate Organs

Essential body parts found within vertebrates, including animals with a backbone, such as the heart, brain, and lungs, each performing specific vital functions.

Equilibrium

A state of balance or stability within a system, where competing influences are balanced.