menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Essentials of Accounting Study Set 3
  4. Exam
    Exam 10: Accounting for Private Not-For-Profit Organizations
  5. Question
    Donated Services Should Be Considered Revenue If the Service Creates
Solved

Donated Services Should Be Considered Revenue If the Service Creates

Question 64

Question 64

True/False

Donated services should be considered revenue if the service creates or enhances a nonfinancial asset or requires a specialized skill which would have had to be purchased if not donated.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q59: A membership pass to the YMCA a

Q60: Which of the following is <u><b>not</u></b>

Q61: FASB Statement 136 Transfer of Assets to

Q62: A private not-for-profit reports expenses in either

Q63: If a donor selects a scholarship recipient,

Q65: When should unconditional pledges be recorded as

Q66: When preparing the Statement of Cash Flows

Q67: Which of the following is not a

Q68: FASB standards require contributions to be recorded

Q69: The residual equity section of Statement of

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines