James McHughes Gave the Following to the City of Carnesville

question 100

Multiple Choice

James McHughes gave the following to the City of Carnesville in order to establish a private-purpose trust:
O Land - cost, $400,000; fair market value as of the date of the gift, $500,000.
O Securities - cost, $1,600,000; fair market value as of the date of the gift, $1,800,000.
The amount to be recorded as additions for gifts by the private-purpose trust fund would be:

• A) $2,000,000.
• B) $2,100,000.
• C) $2,200,000.
• D) $2,300,000.

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Definitions:

Positive Attitudes

A mental stance that involves looking at the good side of situations, expecting positive outcomes, and maintaining a hopeful outlook.

Specific Intentions

Explicit, defined goals that an individual sets out to achieve, often detailed and focused.

Theory of Reasoned Action

A psychological theory that predicts an individual's intention to engage in a behavior at a specific time and place, considering attitudes toward the behavior and subjective norms.

Explicit Commitment

Explicit commitment involves a clear and unequivocal promise or declaration to perform a particular action or adhere to a certain path.