If a Donor Selects a Scholarship Recipient,and Then Donates Cash

question 112

Multiple Choice

If a donor selects a scholarship recipient,and then donates cash to a ballet school to fund that scholarship,the ballet school would:

• A) Record a liability, as it is acting as an agent for the donation.
• B) Record the donated cash as a contribution.
• C) Not record the donation at all, but disclose it in the notes.
• D) Record the scholarship awarded as a reduction of revenue.

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Definitions:

Caffeine

A central nervous system stimulant commonly found in coffee, tea, sodas, and chocolate, known for its ability to reduce fatigue and improve focus.

Dysmenorrhea

A medical condition characterized by severe and painful menstrual cramps.

Amenorrhea

The absence of menstruation in a woman of reproductive age, which could be due to various factors including pregnancy, stress, or medical conditions.