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A donor gives the Museum, a nonprofit organization, a diary written by an important U.S. leader....

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Accounting

A donor gives the Museum, a nonprofit organization, a diarywritten by an important U.S. leader. The donor has the conditionthat the diary be used as the Museum's exhibition and that it neverbe sold. The diary was bought by the donor a few weeks ago at$250,000. How should the museum account for this gift? What are theoptions and why?

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The detailed explanation of the above mentioned question is below First of all Non Profit Organisations are the entities which works not for profit ie the working of these organisations are not for profit purpose Other than this the profit made by these organisations are spent into the business and for the    See Answer
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