Conditional Promises to Give Are Recognized as Revenue or Support

question 49

True/False

Conditional promises to give are recognized as revenue or support when the promise is made net of estimated uncollectible receivables.

---

Definitions:

Testify

To make a statement based on personal knowledge or belief, under oath in a court of law.

Main Part

The central or most important segment or component of something.

Address Block

The part of a letter that indicates to whom the letter is addressed. The address block is placed in the upper left-hand portion of the letter, above the salutation and reference line, if one is included.

Firm's Letterhead

The official stationary of a company or organization that contains its name, address, logo, and sometimes its directors, used for formal correspondence.