Contributed Services Are Recognized as Revenue for a Private Not-For-Profit

question 162

Multiple Choice

Contributed services are recognized as revenue for a private not-for-profit when the service:

• A) Is related to administration and fund raising activities.
• B) Requires specialized skills, is provided by someone possessing those skills, and typically would be purchased if not provided by donation.
• C) A and B are both required for the service to be recorded as revenue
• D) None of the above, contributed services are not recorded as revenue

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Definitions:

Foreign Producers

Manufacturers or producers located in a country or jurisdiction different from where their products are sold or consumed.

Wage Increases

Adjustments or rises in the amount of money that workers are paid for their labor, often seen as a reflection of economic growth or inflation.

Real Wages

Wages adjusted for inflation, representing the purchasing power of the income received by workers.

U.S. Automobile

Vehicles manufactured by companies based in the United States, typically referring to cars and trucks.