In Accordance with ASC 958,contributions of Services Are Recognized as Increases

question 103

Multiple Choice

In accordance with ASC 958,contributions of services are recognized as increases in unrestricted net assets by a private,not for profit entity if which of the following criteria are satisfied?
I.The services received create or enhance nonfinancial assets.
II.The services require specialized skills,are provided by individuals possessing those skills,and would typically need to be purchased if not provided by donations.
III.The services will be performed within the current fiscal year.

• A) I or II.
• B) I or III.
• C) II or III.
• D) I, II, III.

---

Definitions:

Efficiency

The ratio of the useful output of a system to the input, expressed in percentage, indicating the system's ability to convert energy or resources into output effectively.

Cooling

The process of removing excess heat from a system to maintain optimal operating conditions, often critical in electrical and electronic systems to prevent overheating.

Synchronoscope

An instrument used to determine the exact point at which two alternating currents achieve synchronism, often used in the synchronization of generators.

Voltage

The electrical potential difference between two points in a circuit, which drives current flow.