A gift-in-kind, for which the not-for-profit entity has no discretion on disposition, should be accounted for by the not-for-profit, nongovernmental entity as

A) a special purpose contribution.
B) an exchange transaction.
C) an agency transaction.
D) a conditional promise to give.

C

Business

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Which of the following is true about misrepresentations of law?

A) A misrepresentation of law is usually not a basis to recover because both parties are assumed to know the law. B) When an expert in the law makes a misrepresentation of law to a less sophisticated party, the misrepresentation is not actionable because each party is presumed to make its own investigation of the applicable law. C) A misrepresentation of law is treated as fraud in the inducement. D) A misrepresentation of law is treated as a unilateral mistake.

Business

Which of the items below should you expect to receive from a full-service broker?

A) Privileged (inside) information about certain companies B) Assistance in tailoring a portfolio to meet your needs C) Assistance in preparing your income tax return D) all of the above

Business