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Question: In a recent month, a CPA provided ten hours of volunteer time to the Society for the Visually Impaired. He devoted seven hours to maintaining the organization's financial records and three to recording tapes of newspaper and magazine articles. If volunteers had not provided these services, the organization would have had to hire paid personnel. How should these services be recognized, if at all, for accounting purposes? What is the rationale for this treatment?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92570308

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