An Unconditional Pledge of Support Is Properly Recorded as Temporarily

question 122

Multiple Choice

An unconditional pledge of support is properly recorded as Temporarily Restricted Revenue at the time of the pledge. Changes in the present value of the receivable resulting from the passage of time is reported as:

• A) Interest income.
• B) Contribution revenue.
• C) Program revenue.
• D) None of above is correct.

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Definitions:

Category

A class or division of items or people with shared characteristics, used for purposes of organization, analysis, or classification.

Antitrust Law

Legislation aimed at preventing anti-competitive practices, monopolies, and other actions that restrict or distort market competition.

Economic Efficiency

A situation in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Chicago School

An economic school of thought advocating for minimal government intervention in markets, emphasizing the importance of free-market principles.