Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 14, Problem 5Q
To determine
Explain the difference between unconditional and conditional pledge and explain the way they reported.
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What is the difference between an unconditional promise to give and an intention to give?
What are the kinds of pledge?
What are the characteristics of the contract of pledge?
Chapter 14 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 14 - Prob. 1QCh. 14 - Prob. 2QCh. 14 - Prob. 3QCh. 14 - What is the value of reporting expenses by...Ch. 14 - Prob. 5QCh. 14 - Prob. 6QCh. 14 - What criteria must be met before an NFP...Ch. 14 - Prob. 8QCh. 14 - What are joint costs, and how are joint costs...Ch. 14 - Prob. 10Q
Ch. 14 - Prob. 11CCh. 14 - Prob. 13CCh. 14 - Prob. 14.1EPCh. 14 - According to GAAP, all not-for-profit...Ch. 14 - Prob. 14.3EPCh. 14 - In a local NFP elementary schools statement of...Ch. 14 - Prob. 14.5EPCh. 14 - Prob. 14.6EPCh. 14 - The Maryville Cultural Center recently conducted a...Ch. 14 - Prob. 14.8EPCh. 14 - Prob. 14.9EPCh. 14 - Prob. 14.10EPCh. 14 - Prob. 14.11EPCh. 14 - Prob. 14.12EPCh. 14 - Prob. 14.13EPCh. 14 - Prob. 15EPCh. 14 - Donated Services. (LO14-3) Indicate whether each...Ch. 14 - Prob. 17EPCh. 14 - Prob. 18EPCh. 14 - Prob. 19EPCh. 14 - Statement of Activities. (LO14-3) The Atkins...Ch. 14 - Prob. 21EPCh. 14 - Prob. 22EPCh. 14 - Prob. 23EPCh. 14 - Prob. 24EPCh. 14 - Prob. 25EP
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Similar questions
- Is the answer pledge correct or is this also a contribution?arrow_forwardA constructive obligation may Be established by an implicit promise. Be established by an explicit promise. Only be established if legally enforceable. All of these choices.arrow_forwardWhat is the effect of the fulfillment of the condition in a conditional obligation? resolutory condition?arrow_forward
- What is the effect of the fulfillment of the condition in a conditional obligation? Explain by giving examples or cases that you know.arrow_forwardAs a general rule, one of the elements needed to make an agreement binding is consideration. True False An approach to consideration is the following: Consideration is a benefit received by the promisor or a detriment incurred by the promise. This is known as:  A. Bargained-for exchange  B. Goodwill  C. Benefit/detriment  D. Promissory estoppelarrow_forwardWhich of the following is not a secondary mode of extinguishing obligations? * Changing the object of the obligation with the consent of the parties Death of both parties Compromise Prescriptionarrow_forward
- Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation, or by provision of law?arrow_forwardWhat are the things we must remember in different kinds of obligation?arrow_forwardWhich one of the following is true about a firm commitment? Select one: a. A firm commitment is a contract that allows both the buyer or seller an option to engage (or not) in a long-term transaction. b. A firm commitment is a transaction that has already occurred and the commitment to pay or receive payment is pending. c. A firm commitment occurs as a result of a historical relationship and there is an expected commitment to engage in a transaction in the future. d. A firm commitment is an agreement with legally enforceable termsarrow_forward
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