Which of the Following Would Not Be Correct with Respect

question 2

Multiple Choice

Which of the following would not be correct with respect to accounting for colleges and universities under the jurisdiction of the FASB?

• A) Contributed services should be recognized only when the services create or enhance nonfinancial assets or require specialized skills, are provided by an individual possessing those skills, and would typically be purchased if not provided by donation
• B) Multiyear pledges are recorded as restricted revenue and receivable for the gross amount of the pledge when the pledge is made
• C) Depreciation is recorded
• D) Investments in stock with determinable fair values and all debt securities are reported at market value

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Definitions:

Health Costs

The expenses associated with maintaining, improving, or monitoring health, including prevention, diagnosis, treatment, and rehabilitation.

Natural Resources

Materials or substances that occur in nature and can be used for economic gain, such as minerals, forests, water, and fertile land.

Ecosystems

Communities of living organisms interacting with each other and their physical environment, functioning as a unit.

Eco-Friendly

Practices or products designed to have minimal impact on the environment, promoting conservation, reducing pollution, and supporting sustainable living.