$5)$ A local philanthropist made an unconditional pledge to donate $$100,000$ to a not$-$for$-$profit organization to be paid in five equal installments of $$20,000$ beginning in two years. Under FASB standards the pledge would be recognized as:

A$)$ A contribution of $$20,000$ in each of the five years a contribution is made.

B$)$ A contribution of $$100,000$ in the year the pledge is made, adjusted for the estimated uncollectible amount.

C$)$ Deferred support of $$100,000$ in the year the pledge was made.

D$)$ A contribution of $$100,000$ in the year the pledge was made, discounted for the difference between the pledge and its present value.

$6)$ Which of the following would be considered "contribution revenue or support" of a not$-$for$-$profit organization under FASB standards?

A$)$ Gain on disposal of capital assets.

B$)$ Money received from a fund$-$raising campaign.

C$)$ Money received from rental of surplus office space.

D$)$ Investment earnings.

$7)$ Under FASB standards, which of the following contributions would not have to be reported as an asset on the statement of financial position of a not$-$for$-$profit organization?

A$)$ Land was donated to the Friends of the Forest Society for conversion into a nature trail.

B$)$ The original courthouse was donated to the Historical Preservation Society for conversion into a museum.

C$)$ An art collector donated a famous oil painting to a local art museum for display in its exhibit hall.

D$)$ A valuable coin collection was donated to the Youth for Conservation organization, which the organization plans to sell at current market prices.

$8)$ When a nongovernmental not$-$for$-$profit organization spends money for the purpose of which an external donor intended, the expense is reported as a:

A$)$ Decrease in net assets with donor restrictions.

B$)$ Decrease in net assets without donor restrictions.

C$)$ Decrease in current$-$restricted fund balance.

D$)$ Decrease in committed fund balance.