NPO Overview Flashcards
1
Q
How are restricted contributions AND unconditional pledges handled on the statement of activities?
A
They are included in revenue with donor restrictions
2
Q
How are unrestricted contributions handled?
A
They are classified as revenue without donor restrictions.
3
Q
Is revenue recognized under a conditional pledge?
A
NO. Conditional pledges must have the conditions satisfied before revenue is recognized
4
Q
How are services that are donated by a specialized skill recognized?
A
The NPO will recognize the expense and credit revenue.
