Under FASAB standards, nonexchange revenues do NOT include

Question

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Nonexchange revenues are revenues where the government receives value without directly giving equal value in return. Sales to other government entities are considered exchange transactions because both parties receive and give up equal values, thus not fitting the definition of nonexchange revenues. Taxes, duties, fines, penalties, and donations do not require the government to provide direct value in return, fitting the nonexchange revenue category.

Under FASAB Standards, Nonexchange Revenues Do NOT Include