A college was the recipient of an annuity gift. The elderly alum ...

[Awilson837]

A college was the recipient of an annuity gift. The elderly alum donated cash of 110,000 and investments of 610,000 with the restriction that the college pay them a sum of 50,000 per year for five years and immediately retire a note payable of
 
  45,000 . If the annuity payable has been actuarially valued at 305,000, the college should report revenues upon receipt of the gift in the amount of
  a. 0
  b. 120,000
  c. 370,000
  d. 425,000
  e. 720,000

Question 2

Back-office functions include:
 a. customer interface
  b. supplier interface
  c. purchasing
  d. accounting

[shaquita]

Answer to Question 1

C

Answer to Question 2

D

[Awilson837]

Thanks for the timely response, appreciate it

[kusterl]

Gracias!