A contractor contributes services valued at $40,000 to build a new building for a private...
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Accounting
A contractor contributes services valued at $40,000 to build a new building for a private NFP organization. The net effect of this contribution in the organization's statement of activities is: Select one:
A. Not reported in the statement of activities.
B. Increase in expenses and increase in contributions of $40,000; no net effect on net assets.
C. $40,000 increase in net assets without donor restrictions.
D. $40,000 increase in net assets with donor restrictions.
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