During the Year a Donor Pledged $1,000,000 in Funds to a Not-For-Profit

question 26

Multiple Choice

During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pledge if it is able to raise $500,000 in funds over the next year. According to the FASB,how would this pledge be recorded?

• A) Contribution-Unrestricted.
• B) Contribution-Temporarily Restricted.
• C) Contribution-Permanently Restricted.
• D) It would not be recorded.

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Definitions:

American Men

Refers typically to adult male individuals from the United States.

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A type of cancer that occurs in the prostate gland of men, often detected via PSA tests or digital rectal exams.

Cancer Death

A term used to describe a death caused by cancer.

Varic/o

Related to or denoting varicose veins, typically used as a prefix in medical terminology.