What characteristics distinguish not-for-profit contributions from exchange or agency transactions? a. They are generally unconditional in that

Question:

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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

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,

Question Posted: