Define Donated Assets.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 2Q: Define intangible assets.
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Define Donated Assets.

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Donated assets are the assets donated to governmental or non profit entity without any consideration or benefit in return voluntarily like a gift. 

The donated asset has to be recorded in the books of receiving entity at fair market value of such assets

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