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Free CRA Exam Braindumps (page: 3)

Page 2 of 61
PDF with 240 Questions

Bequests and gifts are:

  1. flexible.
  2. not flexible.
  3. not recommended for programs of larger scales.
  4. not recommended for programs of smaller scales.
  5. None of the choices.

Answer(s): A

Explanation:

Bequests and gifts are basically awards that are given with few or no conditions specified. Gifts may be provided for establishing an endowment or for providing direct support for existing programs. They are often used to support developing programs for which other funding is not available. In other words, they are quite flexible.



A donation may refer to the transfer of equipment:

  1. ONLY without specifications as to the exact preferred use
  2. ONLY with specifications as to the exact preferred use
  3. with or without specifications as to the exact preferred use
  4. None of the choices.

Answer(s): C

Explanation:

A donation refers to the transfer of equipment, money, goods, services, and/or property with or without specifications as to the exact preferred use (no specific intent). In-Kind refers to contributions or assistance in a format other than money. An example is the equipment offered in lieu of cash. Benefits refer to the payment made or an entitlement available in accordance with arrangements such as wage agreement, insurance policy, and/or public assistance program.



A donation may NOT refer to the transfer of:

  1. equipment
  2. money
  3. goods
  4. services
  5. property
  6. None of the choices.

Answer(s): F

Explanation:

A donation refers to the transfer of equipment, money, goods, services, and/or property with or without specifications as to the exact preferred use (no specific intent). In-Kind refers to contributions or assistance in a format other than money. An example is the equipment offered in lieu of cash. Benefits refer to the payment made or an entitlement available in accordance with arrangements such as wage agreement, insurance policy, and/or public assistance program.



Which of the following refers to contributions or assistance in a format other than money?

  1. In- Kind
  2. Out- Kind
  3. Gratitu de
  4. None of the choices.

Answer(s): A

Explanation:

A donation refers to the transfer of equipment, money, goods, services, and/or property with or without specifications as to the exact preferred use (no specific intent). In-Kind refers to contributions or assistance in a format other than money. An example is the equipment offered in lieu of cash. Benefits refer to the payment made or an entitlement available in accordance with arrangements such as wage agreement, insurance policy, and/or public assistance program.






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