Which of the following is NOT a requirement for a not-for-profit organization to record donated materials and services?
A) The fair value of the donation can be determined.
B) The organization uses the deferred contribution method of revenue recognition.
C) The materials or services would normally have been used in the organization's operations.
D) The not-for-profit organization would have purchased the goods or services if they had not been donated.
Correct Answer:
Verified
Q24: Which of the following is NOT among
Q25: If a not-for-profit organization uses the restricted
Q27: If a not-for-profit organization has revenues in
Q28: How should investment income earned on donation
Q29: A not-for-profit organization receives a restricted contribution
Q31: Which of the following is NOT a
Q32: How should that portion of investment income
Q33: A not-for-profit organization receives a restricted contribution
Q33: Where should be endowment contributions presented in
Q37: If a not-for-profit organization that usually has
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents