During the Year a Donor Pledged $1,000,000 in Funds to a Not-For-Profit

question 72

Multiple Choice

During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pledge if it is able to raise $500,000 in funds over the next year. According to the FASB, how would this pledge be recorded?

• A) Contribution-With Donor Restrictions.
• B) Contribution-Without Donor Restrictions.
• C) Deferred Revenue.
• D) It would not be recorded.

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Definitions:

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Mental activities beyond conscious awareness that influence thoughts, feelings, and actions.

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Relationships that adversely affect an individual's ability to function well in daily life, often characterized by harmful or dysfunctional interaction patterns.

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A type of shopping center characterized by a row of connected retail stores with a shared parking lot, usually located along a major roadway.

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Physical or online locations that sell goods directly to consumers for personal or household use.