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5.0
NFP Revenue Recognition Questions with Detailed
Verified Answers (100% Correct Answers) /Already
Graded A+
Conditions are associated with pledges or receipts provided to a not-
for-profit organization in the event that there is (are):
Ans: Measurable performance-related barriers or other barriers relative to
the promise or receipt and a right of return of contributed resources or
release of the promisor of any obligation.
Conditional Contribution
Ans: Conditions are defined as measurable performance-related barriers or
other barriers. These barriers are relative to either a promise to give or a
donation received that are further associated with the donorʹs right to require
a return of the donation from the recipient or right to rescind the promise to
give. Both the barrier and right of return must exist to represent a condition.
The existence of conditions relative to donation preclude the recognition of
revenue for not-for-profit organizations.
A simple example of a conditional contribution is a "challenge grant," where
a donor agrees to make a gift upon the donee's achievement of a specified
level of fundraising (the challenge) set by the donor.
Revenue is not recognized until the condition is met.
Right of Return
Ans: Donor has the right to require return of the donation if contribution is not
met.
Sunday, 02 March 2025
, Measurable performance-related barriers that are typically indicative
of conditions attached to promises (pledges) or resources received by
a not-for-profit organization would include which of the following?
Ans: Entitlement to assets contingent upon the achievement of producing
specific outputs or measurable outcomes.
Entitlement to assets, contingent upon the achievement of producing
specific outputs or measurable outcomes, could be a measurable
performance-related barrier that could indicate the existence of a condition
attached to a promise to give or resource received. Measurable
performance-related barriers include specific outputs or outcomes, specified
levels of service, matching requirements, or outside events or contingencies.
Barriers that indicate a conditional contribution
Ans: performance related barriers or others:
- specific levels of service
- specific outputs or outcomes
- matching
- outside event
Matching and cost eligibility requirements are both examples of measurable
performance-based barriers or other barriers that could indicate the
existence of a condition.
Conditional vs Restricted Revenue
Examstudy - Stuvia US
In today's fast-paced educational landscape, students need reliable resources to excel in their studies.
5.0
NFP Revenue Recognition Questions with Detailed
Verified Answers (100% Correct Answers) /Already
Graded A+
Conditions are associated with pledges or receipts provided to a not-
for-profit organization in the event that there is (are):
Ans: Measurable performance-related barriers or other barriers relative to
the promise or receipt and a right of return of contributed resources or
release of the promisor of any obligation.
Conditional Contribution
Ans: Conditions are defined as measurable performance-related barriers or
other barriers. These barriers are relative to either a promise to give or a
donation received that are further associated with the donorʹs right to require
a return of the donation from the recipient or right to rescind the promise to
give. Both the barrier and right of return must exist to represent a condition.
The existence of conditions relative to donation preclude the recognition of
revenue for not-for-profit organizations.
A simple example of a conditional contribution is a "challenge grant," where
a donor agrees to make a gift upon the donee's achievement of a specified
level of fundraising (the challenge) set by the donor.
Revenue is not recognized until the condition is met.
Right of Return
Ans: Donor has the right to require return of the donation if contribution is not
met.
Sunday, 02 March 2025
, Measurable performance-related barriers that are typically indicative
of conditions attached to promises (pledges) or resources received by
a not-for-profit organization would include which of the following?
Ans: Entitlement to assets contingent upon the achievement of producing
specific outputs or measurable outcomes.
Entitlement to assets, contingent upon the achievement of producing
specific outputs or measurable outcomes, could be a measurable
performance-related barrier that could indicate the existence of a condition
attached to a promise to give or resource received. Measurable
performance-related barriers include specific outputs or outcomes, specified
levels of service, matching requirements, or outside events or contingencies.
Barriers that indicate a conditional contribution
Ans: performance related barriers or others:
- specific levels of service
- specific outputs or outcomes
- matching
- outside event
Matching and cost eligibility requirements are both examples of measurable
performance-based barriers or other barriers that could indicate the
existence of a condition.
Conditional vs Restricted Revenue
Examstudy - Stuvia US
