On June 30,20X9,a Voluntary Health and Welfare Organization Received Pledges

question 96

Multiple Choice

On June 30,20X9,a voluntary health and welfare organization received pledges from donors amounting to $50,000.The donors did not place any time or use restrictions on the amount pledged.It was estimated that 10 percent of the pledges would not be collected.How should the voluntary health and welfare organization report these pledges on its financial statements prepared at the end of its fiscal year,June 30,20X9?

• A) As fund balance for $45,000.
• B) As contribution revenue-unrestricted for $45,000.
• C) As contribution revenue-unrestricted for $50,000.
• D) As fund balance-unrestricted for $50,000.

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Definitions:

Desired State

The preferred outcome or condition that an individual or organization aims to achieve.

Ill-structured Problem

A type of problem that lacks clear goals, solution paths, or expected solutions, making it difficult to solve.

Programs

A set of planned activities or procedures designed to achieve specific outcomes or objectives.

Decision Program

A predefined set of policies or procedures followed during the decision-making process to achieve a certain objective.