Which of the Following Is Part of the Treatment of Multi-Year

question 65

Multiple Choice

Which of the following is part of the treatment of multi-year pledges as required by FASB Statement No.116?

• A) The donation is recorded as a receivable at the present value of the future collections but revenue is not recorded until the pledge is received.
• B) At the end of each accounting period, the difference between the balance in the receivable account and the new present value is recorded as contribution revenue and the receivable is increased.
• C) At the end of each accounting period, the difference between the balance in the receivable account and the new present value is deducted from the amount of the amount received from the donor which is recorded as income.
• D) Pledge receivable is recorded for the total amount to be received and revenue is recorded each year as monies are received by the organization.

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Definitions:

Lateral Gray Horns

The regions in the spinal cord that contain nerve cell bodies involved in the autonomic nervous system, responsible for controlling involuntary functions.

Dorsal Roots

Nerve fibers that enter the spinal cord, carrying sensory information from the body to the brain.

Ventral Roots

The efferent motor root of a spinal nerve, passing anteriorly from the spinal cord, that carries motor signals from the nervous system to the muscles.

Cervical Region

The part of the spine located in the neck, consisting of seven vertebrae.