Which of the Following Receipts May Properly Be Accounted for as an Increase

question 14

Multiple Choice

Which of the following receipts may properly be accounted for as an increase in net assets without donor restrictions by a private college?

• A) Student tuition and fees.
• B) Gift from an alumnus for a new college of business building.
• C) Federal grant for genetic research.
• D) Acceptance of assets, the income from which will be paid to the donor.

---

Definitions:

Post-formal Thought

A stage of cognitive development posited to follow Piaget’s final stage, characterized by the ability to understand that answers to problems can vary depending on circumstances and that ambiguity and contradiction are a part of life.

Practical

Related to the actual experience or use of knowledge in real-world situations, emphasizing effective action or application rather than theory.

Abstractly

Thinking in a way that is not concrete or specific, involving concepts and ideas rather than physical examples.

Formal Logic

The study of the principles of valid inference and correct reasoning, often through the use of symbolic notations.