Author Question: According to the Sarbanes-Oxley Act of 2002, management must identify, document, and evaluate ... (Read 55 times)

ts19998 · **on:** Jul 5, 2018

According to the Sarbanes-Oxley Act of 2002, management must identify, document, and evaluate significant internal controls.
Indicate whether the statement is true or false

Question 2

A not-for-profit organization was the recipient of a significant fixed asset donation. The assets, a building valued at 82,000, and one acre of land, valued at 210,000, are going to be used by the organization for office space and parking.

The donor's net book value of the building was 22,000, and the land basis was 65,000 . The not-for-profit organization's total basis for the assets should be
A. 87,000.
B. 104,000.
C. 147,000.
D. 292,000.