Multiple Choice
A donated collection is not required to be capitalized. If a government decides notto capitalize them, how will they be accounted for at the time of the donation?
A) Debit revenue, credit expense/expenditure
B) Debit collections, credit revenue
C) Debit expense/expenditure, credit revenue
D) Debit collections, credit cash
Correct Answer:
Verified
Correct Answer:
Verified
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