Which of the Following Statements Regarding Specific Not-For-Profit Transactions Is

Multiple Choice

Which of the following statements regarding specific not-for-profit transactions is FALSE?

A) Not-for profit organizations generally have the option of determining a fair value at the day of receipt or recording it at a nominal value if it is materials or services
B) Not-for-profit organizations reflect capital assets and intangibles at the book value at the transaction date.
C) Not-for-profit organizations determine control based on its ability to control the board of directors of the other entity.
D) Not-for profit organizations require additional disclosure with respect to strategic investments, related party transactions, and allocated expenses.