Which of the Following Factors, If Present, Would Indicate That

question 28

Multiple Choice

Which of the following factors, if present, would indicate that a transaction is not a contribution?

• A) The resource provider received value in exchange.
• B) The resource provider entered into the transaction voluntarily.
• C) The transfer of assets was unconditional.
• D) The organization has discretion in the use of the assets received.

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Definitions:

Customers' Names

Identifying information for individuals or entities that purchase goods or services from a business.

Subsidiary Ledger

A detailed ledger that contains the accounts of specific areas of business, supporting data for accounts in the general ledger.

Accounts Receivable

Financial obligations of customers towards a business for delivered products or services awaiting payment.

Discount Period

The time frame within which a payment can be made at a reduced rate.