Chat with AI
Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
Edition 17ISBN: 978-1259564239Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
Edition 17ISBN: 978-1259564239 Exercise 2
Using GP for general purpose government or SP for special purpose government, identify the following governments by type.
Explanation
Verified
Verified
Business organizations:
Business organizations are generally formed to earn income. The main aim of the owners of these organizations is to make profit. Business organizations refers to an individual or group of people who work together to attain certain commercial objectives.
Non-profit organization:
It is an individual or group of people who work together to attain the goals and mission of an organization. It will not earn profit for the owners.
Special purpose:
Special purpose government refers to those that functions for special purposes. It provides single or limited number of functions.
General purpose:
General-purpose government refers to those that serve in wide range. It does not have any special function to provide, as it will serve for many functions.
Identify the government type:
Conclusion:
Cities, states, villages, and townships come under the general-purpose government. School districts, public works, and libraries function under the special purpose government.
Business organizations are generally formed to earn income. The main aim of the owners of these organizations is to make profit. Business organizations refers to an individual or group of people who work together to attain certain commercial objectives.
Non-profit organization:
It is an individual or group of people who work together to attain the goals and mission of an organization. It will not earn profit for the owners.
Special purpose:
Special purpose government refers to those that functions for special purposes. It provides single or limited number of functions.
General purpose:
General-purpose government refers to those that serve in wide range. It does not have any special function to provide, as it will serve for many functions.
Identify the government type:
Conclusion: Cities, states, villages, and townships come under the general-purpose government. School districts, public works, and libraries function under the special purpose government.
Accounting for Governmental & Nonprofit Entities 17th Edition by Jacqueline Reck,Suzanne Lowensohn,Earl Wilson
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
