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With regards to reporting donations, FASB standards requires organizations to: A. Pay a capital gains tax B. Report the donations as non-operating increase in assets
With regards to reporting donations, FASB standards requires organizations to: A. Pay a capital gains tax B. Report the donations as non-operating increase in assets C. Include the IRS Charitable Donations Received form with the annual tax filing D. Distinguish between donations received that increase permanently restricted net assets, temporarily restricted net assets, and unrestricted net assets 48 / 76
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
7th edition
1259722635, 978-1259722639
