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1. Contributions that are restricted by a donor to a nongovernmental not-for-profit organization are reported as a part of: a Permanently restricted net assets b

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1. Contributions that are restricted by a donor to a nongovernmental not-for-profit organization are reported as a part of: a Permanently restricted net assets b Temporarily restricted net assets C Unrestricted net assets d Either permanently restricted or temporarily restricted net assets, depending on the terms of the restriction 2. Unconditional promises to give are recognized as contribution revenue under GAAP when: a The promise is received b The related receivable is collected C The time or purpose restriction is satisfied d The future event that binds the promisor occurs 3. Which of the following is not a characteristic of a conditional promise to give? a It depends on the occurrence of a specified future and uncertain event to bind the promisor. b The gift may have to be returned to the donor if the condition is not met It is recognized as contribution revenue when the conditions are substantially met. d It depends on demand by the promisee for performance. 4. Contributed long-lived assets that are donor restricted for a certain time period are reported by a nongovernmental not-for-profit entity as: a Unrestricted support in unrestricted net assets b Restricted support in permanently restricted net assets C Restricted support in temporarily restricted net assets d Unrestricted support in temporarily restricted net assets ash that was restricted for that ion expense is reported in unre- 5. Long-lived assets are purchased by a nongovernmental not-for-profit entity with cash that was restricte purpose. The assets are reported in temporarily restricted net assets. Depreciation expense is reporter stricted net assets. a The depreciation expense is incorrectly reported. b An amount equal to the depreciation is reclassified from temporarily restricted to unrestricted net asset C An amount equal to the depreciation is reclassified from unrestricted to temporarily restricted net a d An amount equal to the depreciation is reported as revenues

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