Which of the Following Would Be Considered "Contribution Revenue or Support

question 48

Multiple Choice

Which of the following would be considered "contribution revenue or support" of a not-for-profit organization under FASB standards?

• A) Gain on disposal of capital assets.
• B) Money received from a fund-raising campaign.
• C) Money received from rental of surplus office space.
• D) Investment earnings.

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Definitions:

Consolidated Net Income

Consolidated net income refers to the total profit of a parent company and its subsidiaries after all intercompany transactions have been eliminated, representing the overall earnings of the corporate group.

Parent

The entity that controls one or more subsidiaries through ownership of the majority of voting rights or through other means.

Subsidiary

A company that is controlled by another company, known as the parent company, through the ownership of more than half of its voting stock or through other means of control.

Intangible Assets

Assets that lack physical substance but provide economic benefits to a company, such as trademarks, patents, and copyrights.