A Governmental Entity Is the Recipient of a Bequest of a Multi-Story

question 27

Multiple Choice

A governmental entity is the recipient of a bequest of a multi-story office building that the government intends to sell to support program activities.The building has a historical of $850,000; a book value in the hands of the benefactor of $700,000; and a fair value of $1,050,000.The city had not yet begun to try to sell the building when its annual financial statements were issued.The city should recognize on its governmental fund financial statements, donations revenue of

• A) $-0-.
• B) $700,000.
• C) $850,000.
• D) $1,050,000.

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Definitions:

Human Existence

Refers to the state or condition of living or being alive, especially considered within the context of human life and experiences.

Fulfilling Aspects

Elements or characteristics of an activity or experience that provide satisfaction or a sense of achievement.

Biological Perspective

An approach in psychology focusing on the role of biological processes and structures, including genetics and neurochemistry, in influencing behavior and mental processes.

Psychological Disorders

Mental disorders characterized by patterns of behavior, thought, or emotions that are significantly disruptive or harmful to oneself or others.