Contributed Service to Private Not-For-Profit's Is Recognized as Revenue/support If

question 26

Multiple Choice

Contributed service to private not-for-profit's is recognized as revenue/support if:

• A) It creates or enhances nonfinancial assets.
• B) It requires a specialized skill.
• C) It would have had to be purchased if it wasn't provided.
• D) All of the above.

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Definitions:

Reserves

Vault cash and deposits of banks held by Federal Reserve district banks.

Deposits

Funds placed into an account at a financial institution for safekeeping and often to earn interest.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulating banks, maintaining financial stability, and providing banking services to governmental institutions.

Board of Governors

The Federal Reserve System’s governing body.