A Not-For-Profit Entity Receives a Donation of 100 Shares of Securities

question 16

Multiple Choice

A not-for-profit entity receives a donation of 100 shares of securities listed on the American Stock Exchange.As a general rule,when it prepares its statement of financial position at year-end,the entity must report the securities at:

• A)their fair value at time of donation
• B)their fair value at date of the statement of financial position
• C)the lower of their fair value at date of donation or their fair value at date of the statement of financial position
• D)the lower of the cost to the donor or the fair value at date of the statement of financial position.

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Definitions:

Marital Instability

A term used to describe a marriage with a lack of cohesion, satisfaction, and security, often leading to conflicts, separations, or divorce.

Maladjustment

The inability to react successfully and adaptively to the demands of one's environment.

Marital Dissolution

The formal ending of a marriage through divorce or annulment.

Style of Communication

The characteristic ways in which an individual expresses themselves verbally and non-verbally when interacting with others.