In a not-for-profit organization, donated capital assets are recorded at what value?

Question

Quizplus · Accepted Answer

Donated capital assets should generally be recorded at their fair market value at the time of donation. This is because fair market value represents the amount that a willing buyer would pay to a willing seller in an arm's length transaction, and is therefore considered the most reliable measure of the asset's worth. The donor's net book value, replacement or reproduction cost, and estimated net realizable value are unlikely to reflect the true value of the donated asset.

In a Not-For-Profit Organization, Donated Capital Assets Are Recorded at What