Which of the Following Is NOT a Requirement for a Not-For-Profit

question 58

Multiple Choice

Which of the following is NOT a requirement for a not-for-profit organization to record donated materials and services?

• A) The fair value of the donation can be determined.
• B) The organization uses the deferral method of accounting for contributions.
• C) The materials or services would normally have been used in the organization's operations.
• D) The not-for-profit organization would have purchased the goods or services if they had not been donated.

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Definitions:

Isolationism

A foreign policy strategy characterized by a country's decision to minimize its involvement in international affairs, focusing instead on its own national interests and advancement.

Foreign Policy

The strategies, decisions, and actions a country adopts in its dealings with other countries to achieve its national objectives.

Corporativism

An ideological and social system advocating the organization of society by corporate groups, such as agricultural, labor, military, or scientific affiliations.

Billy Sunday

An influential American evangelist during the late 19th and early 20th centuries known for his fiery sermons and mass conversions.