Unconditional promises to transfer cash or other resources to an entity in a voluntary nonreciprocal transaction is the GAAP definition of:
A) Miscellaneous revenues.
B) Contributions.
C) Unconditional promises to give.
D) Exchange transactions.
E) Pledges.

Question

Quizplus · Accepted Answer

The Answer of Unconditional promises to transfer cash or other resources to an entity in a voluntary nonreciprocal transaction is the GAAP definition of:
A) Miscellaneous revenues.
B) Contributions.
C) Unconditional promises to give.
D) Exchange transactions.
E) Pledges.

Unconditional Promises to Transfer Cash or Other Resources to an Entity