A Local CPA Volunteered His Time to Prepare the Form

question 37

Multiple Choice

A local CPA volunteered his time to prepare the Form 990 for an after-school development organization that serves disadvantaged children. If the services had not been donated the organization would have had to hire a CPA to prepare the return. In accordance with the FASB Codification, the value of the CPA's time devoted to helping the organization should be recorded as:

• A) Contribution-With Donor Restrictions.
• B) Support Expense.
• C) Machinery & Equipment.
• D) It would not be recorded.

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Definitions:

Cryotherapy

A treatment method that uses extremely cold temperatures to freeze and remove abnormal tissue or reduce pain and inflammation.

Laser Therapy

A medical treatment that uses focused light to treat or remove tissue in a precise manner.

Diabetic Mother

A woman with diabetes, a condition characterized by high blood sugar levels, who is pregnant or planning to become pregnant.

Hypoglycemic

Pertaining to or characterized by hypoglycemia, a condition marked by abnormally low blood sugar levels.