Which of the Following Statements Best Describes Charitable Subscription Promises

question 8

Multiple Choice

Which of the following statements best describes charitable subscription promises?

• A) They are generally not enforceable.
• B) They are equated by the law with gifts.
• C) They are generally enforceable if there is reliance or a probability of reliance by the charity.
• D) Courts generally find that it would be unjust to enforce them because persons who promise charitable subscriptions do not expect to be held accountable for them.

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Definitions:

MRP

Marginal Revenue Product, the additional revenue generated by the employment of one additional unit of a factor of production.

MPP

Marginal Physical Product, the change in total output of a good that results from a one-unit change in input, holding all other inputs constant.

Substituted

The act of replacing one good or service with another due to changes in price, preference, or other variables.

Derived Demand

Demand for a factor of production or intermediate good that occurs as a result of the demand for another related good or service.