Buana Fide Is a Local Charity Which Received the Following

question 52

Essay

Buana Fide is a local charity which received the following donations during 2013: • A local radio station donated air time valued at $20,000. If the air time had not been donated, Buana Fide would have purchased it. • An anonymous donor donated land with a fair value of $50,000 as well as machinery valued at $4,000. • During a recent fund-raising campaign, volunteers spend roughly 1,000 hours soliciting donations from the public. The minimum hourly wage rate in Buana Fide's main area of operation is $8.00 per hour. Prepare the necessary journal entries to record these transactions assuming that the restricted fund method of accounting for contributions is used and the organization has a general fund, a capital fund and an endowment fund.

Identify the factors affecting productivity and wages globally.

Understand the role of central banks, particularly the Federal Reserve, in managing economic activity.

Comprehend the relationship between money supply, inflation, and unemployment in the short run.

Analyze the determinants of a country's standard of living.

---

Definitions:

Biological Predisposition

Rephrased from Genetic Predispositions: The inherent genetic makeup that increases the likelihood of an individual developing certain conditions or traits.

Generalization

The process by which individuals apply learned responses to similar but not identical stimuli.

Spontaneous Recovery

The reappearance of a previously extinguished response after a period of non-exposure to the conditioned stimulus.

Negative Reinforcement

A process in behaviorism where the removal of an undesirable or unpleasant stimulus strengthens or increases the probability of a response.