_____ Under FAS 116, which of the following contributions are credited directly to the entity's net assets (equity) section of the balance sheet when received?
A) Contributions of capital assets.
B) Contributions that create endowments (permanent).
C) Contributions that create temporary endowments.
D) Contributions of services that enhance nonfinancial assets.
E) None of the above.

Question

_____	Under FAS 116, which of the following contributions are credited directly to the entity's net assets (equity) section of the balance sheet when received?
A) Contributions of capital assets.
B) Contributions that create endowments (permanent).
C) Contributions that create temporary endowments.
D) Contributions of services that enhance nonfinancial assets.
E) None of the above.

Quizplus · Accepted Answer

The Answer of _____	Under FAS 116, which of the following contributions are credited directly to the entity's net assets (equity) section of the balance sheet when received?
A) Contributions of capital assets.
B) Contributions that create endowments (permanent).
C) Contributions that create temporary endowments.
D) Contributions of services that enhance nonfinancial assets.
E) None of the above.

_____ Under FAS 116, Which of the Following Contributions Are Credited