A Donor Made an Unconditional Pledge in 2016 of

question 118

Multiple Choice

A donor made an unconditional pledge in 2016 of $ 50,000 to a private not-for-profit organization with the intent to pay the cash in 2017 for unrestricted use in 2017. The organization should:

• A) Record the pledge receivable and deferred revenue in 2016.
• B) Record the pledge as temporarily restricted revenue in 2016 and reclassify it to unrestricted in 2017.
• C) Record the pledge as unrestricted revenue in 2016.
• D) Record the pledge as temporarily restricted revenue in 2016 and reclassify it to unrestricted in 2017, but only in an amount equivalent to the amount that is spent in 2017.

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Definitions:

Episodic Memory

A category of long-term memory that involves the recollection of specific events, situations, and experiences, including the context and emotions associated with them.

Personally Experienced Events

Events or occurrences that an individual personally encounters or undergoes, contributing to their personal history and memory.

Explicit Memory

A type of long-term memory involving the conscious recollection of factual information, previous experiences, and concepts.

Eidetic Memory

The rare ability to recall images, sounds, or objects in memory with great precision and detail, often referred to as photographic memory.