What characteristics distinguish not-for-profit contributions from exchange or agency transactions? a. They are generally unconditional in that
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What characteristics distinguish not-for-profit contributions from exchange or agency transactions?
a. They are generally unconditional in that they are not subject to future or uncertain events that would require their return.
b. The contributions are typically voluntary and nonreciprocal in nature.
c. An ownership interest is typically established.
d. All of the above.
e. Items a and b only.
f. Items b and c only.
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Related Book For
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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