Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 66

Pel Museum is a private not-for-profit organization. If it receives a contribution of historical artifacts, it need not recognize the contribution if the artifacts are to be sold and it will use the proceeds to
A) Support general museum activities.
B) Acquire other items for collections.
C) Repair existing collections.
D) Purchase buildings to house collections.