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Which of the Following Is an Example of Volunteer Services

Question 7

Multiple Choice

Which of the following is an example of volunteer services received by a not-for-profit entity that should be recognized as revenue?
I.Services requiring specialized skills,provided by individuals with those skills,that otherwise would have to be purchased.
II.Services of lay faculty at a private university operated by a religious order.
III.Services that create or enhance non-financial assets,regardless of whether or not they require specialized skills.


A) I only
B) I and III only
C) II and III only
D) I,II,and III

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