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What the net effect of the contribution in the organization

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Question 1: A CPA contributes services valued at $3,000 to provide financial services to a private NFP organization. The net effect of this contribution in the organization's statement of activities is:

Option A. Not reported in the statement of activities.

Option B. $40,000 increase in net assets with donor restrictions.

Option C. Increase in expenses and increase in contributions of $40,000; no net effect on net assets.

Option D. $40,000 increase in net assets without donor restrictions

Reference no: EM132499266

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