Question
When is a restriction for acquiring a long-lived asset released?
Tap to flip
Answer
When the asset is placed in service.
Tap to flip back
Question
Why is ordinary volunteer labor usually not recognized?
Tap to flip
Answer
It does not meet the contributed-services criteria.
Tap to flip back
Question
How are contributed nonfinancial assets measured and presented?
Tap to flip
Answer
At fair value, separately presented on the statement of activities.
Tap to flip back
Question
Why does variance power change an intermediary transfer's accounting?
Tap to flip
Answer
It gives the recipient control, so the transfer is revenue rather than a liability.
Tap to flip back