Question
1. An actress states at the Oscar awards ceremony that she will donate $1,000,000 to her alma mater if she wins the Oscar. Based on
1. An actress states at the Oscar awards ceremony that she will donate $1,000,000 to her alma mater if she wins the Oscar. Based on this oral pledge, the alma mater should record
| a. | Contribution Revenue Unrestricted | c. | Contribution Revenue - Permanently Restricted |
| b. | Contribution Revenue- Temporarily Restricted | d. | Nothing |
2. A donor promises the local Cancer Society that he will give them $10,000 in eleven months. This $10,000 promise is a(n)
| a. | conditional contribution | c. | temporarily restricted contribution |
| b. | unrestricted contribution | d. | promise to give to disclose in a footnote |
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Canadian Cases In Financial Accounting
Authors: Carol E. Dilworth, Joan E. D. Conrod
2nd Edition
256111405, 978-0256111408
