_____ Under FAS 116, the fair value of a contribution cannot be determined by using
A) Market quotations.
B) Appraisals.
C) Present-value calculations of expected future cash flows.
D) Hours donated multiplied by the standard billing rate per hour.
E) None of the above.

Question

_____	Under FAS 116, the fair value of a contribution cannot be determined by using
A) Market quotations.
B) Appraisals.
C) Present-value calculations of expected future cash flows.
D) Hours donated multiplied by the standard billing rate per hour.
E) None of the above.

Quizplus · Accepted Answer

Under FAS 116, the fair value of a contribution can indeed be determined using market quotations, appraisals, present-value calculations of expected future cash flows, and hours donated multiplied by the standard billing rate per hour. Therefore, none of the options provided are correct as exclusions for determining fair value.

_____ Under FAS 116, the Fair Value of a Contribution Cannot