Which of the Following Statements Is Not Correct with Respect

question 83

Multiple Choice

Which of the following statements is not correct with respect to contributions to a private not-for-profit?

• A) Contributions to a not-for-profit are recorded at fair market value at the date the pledge is made.
• B) Contributions of assets other than cash to a not-for-profit are recorded at the donor's basis.
• C) Contributions to a not-for-profit may be restricted as to purpose or time or for plant acquisition.
• D) Revenues, including contributions are considered to be unrestricted unless donor-imposed restrictions apply.

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Definitions:

Behavioral Finance

A field of finance that proposes psychology-based theories to explain stock market anomalies.

Reasoning Errors

Mistakes in logical thinking or incorrect conclusions drawn from evidence or assumptions.

Financial Decisions

Decisions made by individuals or companies relating to managing money, including investment choices, budgeting, borrowing, and saving.

Overconfidence

A cognitive bias where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.