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

question 31

Multiple Choice

In accordance with ASC 958,contributions of services are recognized as increases in net assets without donor restrictions 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.

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Definitions:

Traditional Career Choices

Career paths that have been historically recognized and pursued, often influenced by societal norms and expectations.

Wage Gap

The disparity in income earnings between different groups within the workforce, often based on gender, race, or other demographic factors.

Social Cognitive Model

A theoretical framework that emphasizes the role of cognitive processes in understanding social behavior, particularly in learning through observation.

Dance Lessons

Instructional sessions focused on teaching the art and technique of dancing, which may involve various genres and styles.