Under FASB Standards How Would a Not-For-Profit Organization Recognize a Conditional

question 11

Multiple Choice

Under FASB standards how would a not-for-profit organization recognize a conditional pledge?

• A) It would debit Pledges Receivable and credit Contributions-Temporarily Restricted.
• B) It would debit Pledges Receivable and credit Deferred Contributions.
• C) It would debit Conditional Pledges Receivable and Credit Deferred Contributions.
• D) It would not recognize the conditional pledge until pledge conditions are substantially met.

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Definitions:

Prosperity

A state of economic flourishing where there is wealth and success within a society or region.

Rapid Economic Growth

A period characterized by a significantly faster than average increase in the economy's output, often marked by increased production, investment, and consumer spending.

Nations

Political and geographical entities with sovereign control over a specific territory, recognized by other nations.

Century

A period of one hundred years, often used to denote significant historical periods or group years into manageable segments for analysis.