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:

Research Methods

Research methods encompass the techniques, strategies, and procedures used in scientific inquiry to gather, analyze, and interpret data, ensuring validity and reliability of results.

Working Memory

An intellectual capacity system with limitations, meant for short-duration information retention for processing requirements.

Implicit

Something understood or implied without being stated openly; often refers to unconscious attitudes or beliefs.

Sensory

Relating to or involving the senses or sensation.