Which of the Following Statements Is Not Correct with Respect

question 42

Multiple Choice

Which of the following statements is not correct with respect to contributions to a private not-for-profit?

• A) Contributions to a not-for-profit are recorded at fair market value at the date of receipt.
• B) Contributions of assets other than cash to a not-for-profit are recorded at the donor's basis.
• C) Contributions to a not-for-profit may be restricted as to purpose or time or for plant acquisition.
• D) Revenues, including contributions are considered to be unrestricted unless donor-imposed restrictions apply.

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Definitions:

Economic Status

The social or financial position of an individual or group within a society, often measured by income, wealth, and employment.

Homelessness

The condition of lacking a stable, permanent, and adequate place to live, often resulting in living on the streets, in shelters, or in temporary housing.

Rise of Homosexual Families

The increasing visibility and acceptance of families headed by same-sex couples, reflecting societal changes in the understanding of family structures.

Constant Care

Continuous attention and medical care provided to a patient, especially during critical conditions, to ensure their well-being and recovery.