(Answered) The text states that nfpo have the option of not

Accounting

The text states that NFPO have the option of not recognizing donated works of art, historical artifacts, and similar items as assets and revenues, provided they are added to collections and the NFPO meet certain other conditions. The practices of several major museums are illustrated in the practice example Art . . . and Bones, Rocks, Frozen Tissues. Discuss the arguments for and against this option.

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