A Donated Collection Is Not Required to Be Capitalized

question 150

Multiple Choice

A donated collection is not required to be capitalized. If a government decides notto capitalize them, how will they be accounted for at the time of the donation?

• A) Debit revenue, credit expense/expenditure
• B) Debit collections, credit revenue
• C) Debit expense/expenditure, credit revenue
• D) Debit collections, credit cash

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Definitions:

Focus Groups

Small, diverse groups of people whose reactions are studied especially in market research or political analysis through guided discussions.

Regularly Occurring Activities

Tasks or events that happen at consistent intervals or in a repeated pattern over a period.

Observation

An approach to collecting job- and performance-related information by direct observation of jobholders by a specialist.

Job Analysis

The process of studying and collecting information about a job’s tasks, responsibilities, and the skills required.