Which of the Following Is True of a Gift Causa

question 6

Multiple Choice

Which of the following is true of a gift causa mortis?

• A) It cannot be revoked before the death of the donor.
• B) It does not require the actual death of the donor.
• C) It represents an irrevocable present transfer of ownership.
• D) It takes precedence over a prior conflicting will.

Identify the requirements for reporting donations and how they impact the Statement of Activities.

Differentiate between various types of not-for-profit entities and their accounting principles.

Recognize how expenses are classified and reported by not-for-profit entities.

Grasp the concept and accounting treatment of unconditional promises to give.