Georgina is a CPA and licensed attorney. She prepares Form 990 for the Cairn Terrier Society, a 501(c)(3) organization, and does its bookkeeping and prepares annual financial reports? How would the Cairn Terrier Society account for her donated services?

Recorded as a contribution and expense at her cost of doing the work because the society would have had to pay someone to do the work if not donated.

O Recorded as a contribution and expense at market value because her work enhances a non-financial asset.

O Not recorded in the financials because her work is an in-kind donation and there is no quid-pro-quo exchange

O Recorded as a contribution and expense at fair market value because the society would have had to pay someone to do the work if

not donated

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