Which of the Following Is Not Correct with Respect Collections

question 107

Multiple Choice

Which of the following is not correct with respect collections held by private not-for-profit organizations?

• A) If a collection is sold, the proceeds must be reinvested in another collection.
• B) If recorded, collections are recorded as permanently restricted assets.
• C) If collections are not recorded, note disclosures are required.
• D) All of the above are correct.

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Definitions:

Corporate Restructuring

The process of reorganizing a company's structure and operations, often to improve efficiency, competitiveness, or financial health.

Feelings of Inequity

Emotional responses that arise when an individual perceives an imbalance or unfairness in their work environment, especially in terms of rewards and contributions.

Overreward Inequity

A situation where an individual perceives they are getting more rewards than they believe they deserve compared to others.

Frustration-Regression

A psychological phenomenon observed in goal-oriented behavior, where an individual facing obstacles regresses to less mature behaviors or simpler strategies in order to deal with frustration.