Question: The revenues of profit seeking organizations are based on user charges
The revenues of profit-seeking organizations are based on user charges. Users may be charged for various services provided by G&NP organizations as well. However, the nature and purpose of user charges of G&NP organizations and those of profit-seeking organizations often differ. Explain.
Relevant QuestionsDifferent sets of accounting and reporting concepts, principles, and standards have evolved for state and local governments, nonprofit organizations, and business enterprises. Given the differences between and among them, ...Hatcher Township prepares its annual General Fund budget on the cash basis and maintains its accounting records on the cash basis during the year. At the end of Hatcher Township’s 20X9 calendar year, you determine the ...Under what circumstances should a government use a Special Revenue Fund? A Capital Projects Fund? A Debt Service Fund?A state or local government may employ only one of certain fund or nonfund accounting entities but one, none, or many of other types. Of which accounting entities would you expect a government to have only one? One, none, or ...1. Analyze the following transactions, assuming that a business-type activity was involved. 2. Analyze the following transactions, assuming that a general government activity was involved. a. Salaries of $5,100 were incurred ...
Post your question