Unformatted text preview: endowment gift that may be invested and the interest used for a particular purpose. Chapter 11 Question 18 a. The celebrity cannot be recorded because anyone can make fund-raising phone calls. Even though we might argue that the celebrity raises more money, we cannot record their donated time as support. b. The plumbing repair cannot be recorded because CPAs don’t possess specialized knowledge to correctly fix a leak. The time the CPA worked on the annual financial report cannot be considered to be a donation because he was being paid. c. Only the carpenter’s time fixing the cabinet can be recorded as contribution revenue....
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- Fall '10