ACCT567 Terms of Gift Classification

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ACCT567 Terms of Gift Classification

ACCT567 Terms of Gift Classification

Revenues/Support and Expenses Problem 14-2 A+

For each of the independent transactions listed in the left-hand column below, indicate which of the revenue/support or expense classifications apply by choosing one or more of the letters from the listed items in the right-hand column. Choose all that apply.

1. A museum gift shop sold prints of famous paintings
2. An NPO incurred a cost for its annual financial statement audit
3. A registered nurse volunteered 10 hours a week for a local agency for disabled person.
4. ………