If a dietician in the community donates her time to the local nonprofit hospital to help it create better menus for its food service, that nonprofit hospital should report her services as contributed services revenue equal to the fair value of her services and the same amount as an expense.

Question

Quizplus · Accepted Answer

If contributed services require specialized skills, are provided by individuals who possess those skills, and would need to be purchased if not contributed, nonprofit hospitals need to record their fair value as revenues and expenses.

If a Dietician in the Community Donates Her Time to the Local