If a Private Not-For-Profit Fails to Comply with Donor Restriction

question 139

True/False

If a private not-for-profit fails to comply with donor restriction on contributions received,the organization must accrue and disclose a contingent liability.

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Definitions:

Systems Perspective

Viewing and understanding processes or problems as parts of a broader system, emphasizing interrelationships and interactions.

Impact

Refers to the influence or effect an action, event, or decision has on something or someone.

Moment

A quantifiable measure of the shape of a set of points or a function, used in various scientific fields, especially physics and statistics, to describe physical properties or probability distributions.

Express Mail Service

A global mail service for sending documents and parcels quickly and with tracking capabilities.