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Tpy6a [65]
2 years ago
8

A donor gave $75,000 to a nongovernmental, not-for-profit charity with instructions that the funds be transferred to Sam Smith,

an individual who lost his home in a fire. The not-for-profit would:
Business
1 answer:
yulyashka [42]2 years ago
6 0

Answer:

B) Record the $75,000 cash and credit a liability

Explanation:

Possible options:

  • A) Record the $75,000 cash and credit temporarily restricted revenue.
  • B) Record the $75,000 cash and credit a liability
  • C) Do either (a) or (b), depending upon the policy of the not-for-profit
  • D) Not record the transaction.

Non-for-profit charities must record all cash donations, but since the funds were donated for an specific purpose, their use is restricted. Therefore, the charity must record a liability (which has a normal credit balance).

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Charra [1.4K]
 in this case, identical changes in autonomous consumption and autonomous government spending: <span> have different effects on equilibrium income

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For example, an increasing interest in technology(autonomous consumption) may increased the investment for tech products. The government spending may not give as much influence in this context because it wont affect the transaction between the customers and the producer
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3 years ago
A simple discount note results in
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A simple discount note results in i<span>nterest that are deducted in advance, this can just be simply called a discount. </span><span> It is usually being confused with markdown. </span><span>Discount is a deduction in the price of a product base on the purchase of the customer while markdown is a reduction of price based on inability to be sold. </span>
6 0
2 years ago
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Suppose only two countries existed in the world. Country A imported $200 million worth of goods and services from Country B. Cou
tigry1 [53]

Answer:

C. Country A equals –$100 million.

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6 0
3 years ago
Howe Corporation calculates inventory and cost of goods sold one time at the end of every accounting period. In contrast, Kelty
Mariana [72]

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3 0
3 years ago
The Next Monet, Inc., operated art schools. At one of its classes, John Picasso (no relation to the great artist) was praised by
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Answer:

Option B                            

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In simple words, The given case is related to the conclusion made by the court in the famous case of  Vokes versus Arthur MurrayLinks, in which the jury in the court rules that,  a determination of a party carrying better information about a subject matter may be treated as a matter of fact even though it would be treated as an opinion if the parties were speaking for deal  on equal conditions.

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