In the Current Year a Not-For-Profit Entity Received a Contribution

question 64

Multiple Choice

In the current year a not-for-profit entity received a contribution of $100,000 to use for scholarships. The entity had budgeted $400,000 for scholarships in the current year and it disbursed $350,000 for scholarships. The amount the entity can consider as 'released from restriction' in the current year is

• A) $0.
• B) $100,000.
• C) $350,000.
• D) $400,000.

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Definitions:

Enron Collapse

A major corporate scandal involving the bankruptcy of the Enron Corporation in 2001, which was marked by extensive fraud and corruption.

Differential Piece Rate

A compensation system where an employee’s pay is based on the quantity of units produced, with different rates applied depending on the worker's productivity levels.

Standard Hour Plan

A compensation system where employees are paid a set rate for each unit of work completed within a standard timeframe.

Straight Piecework Plan

A pay system where employees are compensated based on the number of units they produce or tasks they complete, directly linking pay to output.