Under the CICA Handbook, a large not-for-profit museum or art gallery ________.

Question

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Under the CICA Handbook, a large not-for-profit museum or art gallery may capitalize the cost of collections. However, the organization must disclose information about the method used to arrive at the costs capitalized, the amount of any gain or loss recognized from deaccessioning, and any restrictions on the sale or use of the collections. Disclosure is required in the notes to the financial statements.

Under the CICA Handbook, a Large Not-For-Profit Museum or Art