Which of the Following Statements Is NOT Correct

question 24

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

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Definitions:

Management

The process of dealing with or controlling things or people, often within an organizational setting.

Henry L. Gantt

An American mechanical engineer and management consultant who developed the Gantt chart, a popular project management tool.

Human Factor

The consideration of the human element, including psychological, physical, and social aspects, in the design and operation of systems and services.

Service

The action of helping or doing work for someone, often refers to intangible products offered by businesses.