A donated collection is not required to be capitalized.If a government decides not to capitalize them,how will they be accounted for at the time of the donation?

Question

Quizplus · Accepted Answer

If a government decides not to capitalize donated collections, they are accounted for by debiting expense/expenditure and crediting revenue, reflecting the receipt of the donation as an increase in resources without capitalizing it as an asset.

A Donated Collection Is Not Required to Be Capitalized