Day 8 - 63% FAIL Flashcards
1
Q
Penn State reported $50m in revenue a NFP. $6.5m was from scholarships. What was their NFP revenue without donor restrictions?
A
$50m
Scholarships are included in revenue without donor restrictions
MCQ-04498
2
Q
Under the par (legal) method of Treasury stock, when is the Gain or loss recorded?
A
At the time of reacquisition
MCQ-06920
3
Q
When do you consolidate FS?
A
When you own over 50%
MCQ-00479
