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Author Question: Membership dues of nongovernment, not-for-profit organizations are A. Always treated as exchange ... (Read 70 times)

melina_rosy

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on: Jul 5, 2018
Membership dues of nongovernment, not-for-profit organizations are
 
  A. Always treated as exchange transactions and reported as revenues.
  B. Always treated as contribution revenues.
  C. Permitted to be reported either as exchange revenues or as contributions revenues depending on the organization's preference.
  D. Reported as contribution revenues if no benefits are received as a result of membership.

Question 2

Revenue accounts are increased by credits.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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jsm54321

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Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

True


melina_rosy

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

connor417

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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