Question

Investments should be initially recorded by a not-for-profit organization at cost, or in the case of donated investments at fair value as of the date of the donation.

A. True
B. False

Answer 1

Investments should be initially recorded at cost or fair value.

Step-by-step explanation:

Investments should be initially recorded by a not-for-profit organization at cost, or in the case of donated investments at fair value as of the date of the donation.