When assets are donated to a corporation, a revenue account should be credited for the fair market value of the assets received.

Name: When assets are donated to a corporation, a revenue account should be credited for the fair market value of the assets received.
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When assets are donated to a corporation, they are typically recorded as an increase in assets and an increase in equity, not revenue, as they are not earned through the corporation's primary operations.

When Assets Are Donated to a Corporation, a Revenue Account