Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all.
-"Basis for measuring contributions" describes which term listed above?
A)Fair value
B)Net assets without donor restrictions
C)GASB
D)FASB
E)Statement of Revenues,Expenditures,and Changes in Fund Balance
F)Lower of cost or market
G)Accrual method
H)Statement of Activities
I)General fund,restricted fund,endowment fund
J)Modified accrual method
K)Net assets with donor restrictions
L)Endowment fund
M)Unrestricted,temporarily restricted,permanently restricted
N)Depreciation
O)Works of art and other historical treasures
P)General fund
Q)Cost

Question

Quizplus · Accepted Answer

Contributions are typically measured at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Indicate Your Choice by Entering the Letter Corresponding to the Correct