In Accordance with FASB Standards, Securities Donated to a Not-For-Profit

question 54

Multiple Choice

In accordance with FASB standards, securities donated to a not-for-profit organization should be recorded at the:

• A) Donor's recorded amount.
• B) Fair market value at the date of the gift, or the donor's recorded amount, whichever is lower.
• C) Fair market value at the date of the gift, or the donor's recorded amount, whichever is higher.
• D) Fair market value at the date of the gift.

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Definitions:

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