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A private nonprofit received a donation of stock on June 14. It was determined that on December 31 the market value of the stock had

A private nonprofit received a donation of stock on June 14. It was determined that on

December 31 the market value of the stock had declined below cost. At what amount

should the stock be reported on the financial statements?

a. Market value at the date of the receipt

b. Donors cost

c. The lower of cost or market

d. Market value at the balance sheet date

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