When Are Unconditional Promises to Give Recognized as Revenues

question 38

Multiple Choice

When are unconditional promises to give recognized as revenues?

• A) In the period the promise is received.
• B) In the period the promise is collected.
• C) In the period in which the conditions upon which they are contingent are substantially met.
• D) In the period in which the conditions upon which they are contingent have begun to be met.
• E) Unconditional promises from potential donors are not revenues.

Determine cash flows from operating activities.

Understand the difference between net income and net cash flows from operating activities.

Recognize the types of cash flows associated with operating activities.

Understand the importance and principles of effective customer service.

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Definitions:

Dispute

A disagreement, argument, or debate, often between people or groups with opposing viewpoints.

Participant

A person who takes part in something, such as an experiment or study.

Neighbor

Someone living in close proximity to another or a member of the same community or area.

Temporal Discounting

In decision making, the greater weight given to the present over the future.