FASB Statement 116 Requires Contributions to Be Recorded as Revenue

question 42

Multiple Choice

FASB statement 116 requires contributions to be recorded as revenue when

• A) The contributed money is actually received.
• B) The contribution is likely to be received.
• C) The contribution is promised.
• D) The contribution is probable and measurable.

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Definitions:

Conditioned Responses

Learned responses to a particular stimulus, conditioned through association during the learning process.

Conditioned Stimuli

In classical conditioning, a previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually triggers a conditioned response.

Cognitive Learning

A process involving mental operations that facilitate the acquisition and retention of knowledge, including thinking, understanding, and remembering.

Observational Learning

The process of learning behaviors by watching and imitating others, highlighted in Bandura's social learning theory.