Unlike governments, not-for-profits should not recognize contributions of art collections as revenue unless they capitalize them.

Name: Unlike governments, not-for-profits should not recognize contributions of art collections as revenue unless they capitalize them.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Not-for-profits can recognize contributions of art collections as revenue regardless of whether they are capitalized, as long as the contributed art meets certain criteria set by accounting standards for not-for-profit organizations.

Unlike Governments, Not-For-Profits Should Not Recognize Contributions of Art Collections