Donated Assets Are Reported in the Government-Wide Financial Statements at

Donated assets are reported in the government-wide financial statements at

A) Historical cost to the donor.
B) Book value in the hands of the donor.
C) Fair value on date of donation.
D) Zero value because they were not purchased.
[NOTE: Guidance on the calculation of gain or loss in the next two series of questions is not covered in this chapter but is from APB Opinion 29.Students should be familiar with this pronouncement from their intermediate accounting classes.]
Use the following information to answer questions #9 - #11