Under FASB Standards, Which of the Following Contributions Would Not

question 26

Multiple Choice

Under FASB standards, which of the following contributions would not have to be reported as an asset on the statement of financial position of a not-for-profit organization?

• A) Land was donated to the Friends of the Forest Society for conversion into a nature trail.
• B) The original courthouse was donated to the Historical Preservation Society for conversion into a museum.
• C) An art collector donated a famous oil painting to a local art museum for display in its exhibit hall.
• D) A valuable coin collection was donated to the Youth for Conservation organization, which the organization plans to sell at current market prices.

Comprehend the relationship between HR planning, talent management, and succession planning.

Understand the procedures and purposes of job specification and job matching within an organization.

Analyze the impact of demographic trends on HR supply planning and the importance of long-term succession planning.

Grasp the reasons organizations have succession management programs and their expected outcomes.

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Definitions:

Modernization Theory

A theory that argues that societies progress linearly from traditional to modern states and that economic development brings about positive social and cultural changes.

European Hegemony

Describes the period or condition where European powers dominated world politics, economics, and culture, often through colonization and imperialism.

Cold War

The period of geopolitical tension between the Soviet Union and the United States and their respective allies, from the end of World War II until the dissolution of the Soviet Union in 1991.

Global Output

The total value of goods and services produced worldwide over a specific time period.