Question: During the year ended December 31, 2009, the James Community Foundation, a private not-for-profit organization, received the following contributed services: I. Anderson & Anderson, attorneys-at-law,
During the year ended December 31, 2009, the James Community Foundation, a private not-for-profit organization, received the following contributed services:
I. Anderson & Anderson, attorneys-at-law, contributed their services which involved advice related to the foundation’s regular endowments.
II. Senior citizens participated in a telethon to raise money for a new music building.
Which of these contributed services should be included in unrestricted revenues, gains, and other support on James Community Foundation’s statement of activities for the year ended December 31, 2009?
a. Both I and II.
b. Neither I nor II.
c. II only.
d. I only.
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