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Mrac [35]
3 years ago
11

During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pled

ge if it is able to raise $500,000 in funds over the next year. According to the FASB, how would this pledge be recorded
Business
1 answer:
KonstantinChe [14]3 years ago
3 0

Answer:

D) It would not be recorded.

Explanation:

FASB means Financial Accounting Standards Board.

Financial Accounting Standards Board is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the US.

No matter what kind of restriction a donor might impose, FASB standards require nonprofits to report finances in a way that makes it clear which funds have donor restrictions and which funds come without donor restrictions. FASB standards are in three categories: “unrestricted,” “temporarily restricted,” and “permanently restricted.”

Unrestricted are those items that have no donor-imposed restrictions

Temporarily Restricted are those items that were received with a donor-imposed restriction that will be satisfied in the future (generally within one year)

Permanently restricted assets are funds of a nonprofit organization that must be used in designated ways and whose principal cannot be touched.

Since the school will recieve the pledge ONLY if it is able to raise $500,000 in funds over the next year, then the pledge would not be recorded

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3 years ago
For the scenario below, determine the legality of the company's actions.
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Explanation:

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In the BIG BUCKS LOTTERY, the chance of winning a $10 prize is 1%. What is your best guess about how many people would win a $10
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Answer:

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5 0
3 years ago
Read 2 more answers
The current price of a stock is $50, the annual risk-free rate is 6%, and a 1-year call option with a strike price of $55 sells
Vlad [161]

Answer:

The value of the put option is;

e. $9.00

Explanation:

To determine the value of the put option can be expressed as;

C(t)-P(t)=S(t)-K.e^(-rt)

where;

C(t)=value of the call at time t

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K=strike price

r=annual risk free rate

t=duration of call option

In our case;

C(t)=$7.2

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S(t)=$50

K=$55

r=6%=6/100=0.06

t=1 year

replacing;

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3 years ago
Which of the following is true of debit cards?
8_murik_8 [283]

Answer:

D

Explanation:

5 0
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