Which of the Following Statements Is NOT Correct

question 33

Multiple Choice

Which of the following statements is NOT correct?

• A) A contribution receivable should be recognized as an asset when the amount can be reasonably estimated and the ultimate collection is reasonably assured.
• B) A contribution receivable should be recognized as an asset when the amount can be reasonably estimated or the ultimate collection is reasonably assured.
• C) Contribution revenue is a type of revenue where the contributor receives nothing directly in return for his or her contribution.
• D) Government grants typically qualify as a contribution.

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Definitions:

Service Rate

The speed at which a service provider can deliver its service to customers, often measuring throughput in a system.

Distribution Of Service Times

The variation and pattern of times it takes for a service to be completed, often analyzed to improve process efficiency.